I found something about preferred shares, but I do
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Posted On: 03/25/2022 9:08:31 AM
I found something about preferred shares, but I don't know what it means. On page 2 of their Q3 report is this:
"Subsequently, on May 14, 2021, Chuanyi Liu and Wu Tung Wong entered into securities purchase agreements with NYJJ whereunder, Chuanyi Liu purchased 9,502,000 shares of Series A-1 Preferred Stock (95.2% of the Series A-1 Preferred) for $253,000 and Tung Wong Wu purchased 498,000 shares of Series A-1 Preferred Stock of the Company (4.98% of the
Series A-1 Preferred) for $1, constituting a second change of control."
Then if you look at the chart on pages 5-6, it shows Chuanyi Liu's shares listed, but not Wu Tung Wong's. So I don't know if Wu Tung Wong was supposed to do something with their shares like register them with the TA and didn't, or maybe that doesn't have anything at all to do with the preferred shares they were talking about in the supplemental filing from 2/25.
I guess we will find out when they file the annual report, if I can't get an answer from Danforth before then.
"Subsequently, on May 14, 2021, Chuanyi Liu and Wu Tung Wong entered into securities purchase agreements with NYJJ whereunder, Chuanyi Liu purchased 9,502,000 shares of Series A-1 Preferred Stock (95.2% of the Series A-1 Preferred) for $253,000 and Tung Wong Wu purchased 498,000 shares of Series A-1 Preferred Stock of the Company (4.98% of the
Series A-1 Preferred) for $1, constituting a second change of control."
Then if you look at the chart on pages 5-6, it shows Chuanyi Liu's shares listed, but not Wu Tung Wong's. So I don't know if Wu Tung Wong was supposed to do something with their shares like register them with the TA and didn't, or maybe that doesn't have anything at all to do with the preferred shares they were talking about in the supplemental filing from 2/25.
I guess we will find out when they file the annual report, if I can't get an answer from Danforth before then.
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