No, you're still a little confused. The 400,356
Post# of 75387
Posted On: 05/25/2016 3:19:35 PM
Re: Tombstone3821 #21375
No, you're still a little confused.
The 400,356,154 shares are what were issued and outstanding as of 6/30/2015 which was the end of fiscal year 2015.
The 501,851,504 shares are what were issued and outstanding as of 3/31/2016 which was the end of the 3rd qtr. of fiscal year 2016.
It is reported this way so that the increase in the issued and outstanding shares over the period of time, which is dilution of share value, is completely transparent to shareholders. We should be happy with this transparency.
The class A series do not figure into these numbers. They can be sold, but generally they are not sold in the public arena. Jerry can convert his shares to common stock at a 1 to 100 exchange, but that would reduce his voting power by the same ratio.
Once preferred share are converted they have a dilutive impact on the common stock shareholders. They would be freely trading, but under the constraints Jerry would be faced with as a control person, he could only sell an amount equal to 1% of the outstanding shares each 90 day period.
I hope that helps.
The 400,356,154 shares are what were issued and outstanding as of 6/30/2015 which was the end of fiscal year 2015.
The 501,851,504 shares are what were issued and outstanding as of 3/31/2016 which was the end of the 3rd qtr. of fiscal year 2016.
It is reported this way so that the increase in the issued and outstanding shares over the period of time, which is dilution of share value, is completely transparent to shareholders. We should be happy with this transparency.
The class A series do not figure into these numbers. They can be sold, but generally they are not sold in the public arena. Jerry can convert his shares to common stock at a 1 to 100 exchange, but that would reduce his voting power by the same ratio.
Once preferred share are converted they have a dilutive impact on the common stock shareholders. They would be freely trading, but under the constraints Jerry would be faced with as a control person, he could only sell an amount equal to 1% of the outstanding shares each 90 day period.
I hope that helps.
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