OBM....I don't have any PMs left. Here is what I f
Post# of 8802
Posted On: 03/08/2016 7:01:55 PM
Re: OneBrokeMama #2566
OBM....I don't have any PMs left. Here is what I found on the preferred outstanding.
The financials appear to be incorrect. In June 2014 the 49,999,995 shares that were tied to a bond were cancelled. This is explained on page F-18 of the 2014 10k below...
http://www.sec.gov/Archives/edgar/data/137344...lk_10k.htm
Then the next filing which is the Nov 30 first quarter 10Q from 2014/15 fiscal year...it correctly states there are zero shares of Series B outstanding as of Nov 30 2014.
http://www.sec.gov/Archives/edgar/data/137344...lk_10q.htm
Then in the next 10Q for 2nd quarter ending Feb 28 2015 it says the series B was fully outstanding in Aug 2014, which it was NOT per the 10k and 10Q above and it says the series is also outstanding as of Feb 2015. If you look at this filing, the 50,000 value on the balance sheet is for the 5 shares of series A owned by Levy. The 49,999,995 is missing as it should be since its not outstanding.
http://www.sec.gov/Archives/edgar/data/137344...lk_10q.htm
Finally on the last 10Q for 3rd quarter 2014/15 fiscal year it says the same thing as the second quarter. That the series b is outstanding for both years yet it does not appear on the balance sheet. Only the value of the A series does.
I also found some other errors in the filings where the series owned by Levy were referred to as the A series and then in a table just below that they were called B series. Hopefully this gets cleaned up with the filings coming up.
The financials appear to be incorrect. In June 2014 the 49,999,995 shares that were tied to a bond were cancelled. This is explained on page F-18 of the 2014 10k below...
http://www.sec.gov/Archives/edgar/data/137344...lk_10k.htm
Then the next filing which is the Nov 30 first quarter 10Q from 2014/15 fiscal year...it correctly states there are zero shares of Series B outstanding as of Nov 30 2014.
http://www.sec.gov/Archives/edgar/data/137344...lk_10q.htm
Then in the next 10Q for 2nd quarter ending Feb 28 2015 it says the series B was fully outstanding in Aug 2014, which it was NOT per the 10k and 10Q above and it says the series is also outstanding as of Feb 2015. If you look at this filing, the 50,000 value on the balance sheet is for the 5 shares of series A owned by Levy. The 49,999,995 is missing as it should be since its not outstanding.
http://www.sec.gov/Archives/edgar/data/137344...lk_10q.htm
Finally on the last 10Q for 3rd quarter 2014/15 fiscal year it says the same thing as the second quarter. That the series b is outstanding for both years yet it does not appear on the balance sheet. Only the value of the A series does.
I also found some other errors in the filings where the series owned by Levy were referred to as the A series and then in a table just below that they were called B series. Hopefully this gets cleaned up with the filings coming up.
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