$TTCM$ INSIDER SHARES LOCKED UNTIL $3.00 SHAREPRICE ! ARkNET!
In October of 2016 the TTCM CEO and two other board members (at the time) exchanged a combined 1.3 billion of the common shares they owned into 13,795,104 shares of Series D (non-tradable) preferred stock.
Below are the Conversion Rights for these non-tradable Series D Preferred Shares as shownin the SEC Filings...
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A holder may convert Preferred Shares to common under the following conditions:
Automatic conversion
– each Preferred Share automatically converts to 100 common shares upon the earlier of
· The end of 5 years (5:00 PM EST, October 5, 2021), or
· A change of control
Optional conversion
- After October 5, 2017, each holder may convert each share into 100 shares of common stock immediately following a period of ten consecutive trading days during which the average closing or last sale price exceeds $3.00 per share. Also, each holder may convert into 110 shares of common stock at any time that the shares are listed on a National exchange (for example, the NYSE or NASDAQ).
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$TTCM
In October of 2016 the TTCM CEO and two other board members (at the time) exchanged a combined 1.3 billion of the common shares they owned into 13,795,104 shares of Series D (non-tradable) preferred stock.
Below are the Conversion Rights for these non-tradable Series D Preferred Shares as shownin the SEC Filings...
*******************
A holder may convert Preferred Shares to common under the following conditions:
Automatic conversion
– each Preferred Share automatically converts to 100 common shares upon the earlier of
· The end of 5 years (5:00 PM EST, October 5, 2021), or
· A change of control
Optional conversion
- After October 5, 2017, each holder may convert each share into 100 shares of common stock immediately following a period of ten consecutive trading days during which the average closing or last sale price exceeds $3.00 per share. Also, each holder may convert into 110 shares of common stock at any time that the shares are listed on a National exchange (for example, the NYSE or NASDAQ).
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$TTCM
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