Nobody, even the most stupid or gullible, who ow

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Nobody, even the most stupid or gullible, who owns Preferred shares, is going to convert Preferred shares after 20 days of issuance. The common stock that underlies the Preferred stock if converted early would be restricted and a new restriction clock would begin if a conversion is too early. The people who wish to be paid in instruments like Preferred stock are professionals, real professionals.

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