Now let's do some calculation:
19,858,907 Outstanding shares as of June 30, 2001
10,000 New shares issued July 12, 2001
2,579,500 New shares issued July 12, 2001
1,800,000 New shares issued July 12, 2001
100,000 Class B common stocks
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19,958,907 Outstanding shares as of July 16th, 2001
(9,994,690) Less: insiders holdings
3,200,000 Add: shares issued to insiders after 07/16/01
-----------
13,164,217 Total common shares qualified for dividend
13,164,217 / 500 = 26,328 preferred shares
(preferred shares have total value of $13,164,217 dollars
at conversion time because each preferred share is $500). |
