Ok So I'm a little off, want to try your hand? Think not? Try this.
1. Issue @ $1.00 simple
2. Dividend if one up to .10 cents a share "IF"
3. Convertible at the option of the holder at 4 to 1 for $1.00 each
prfd. to 4 shares at .25 cents.
4. Owners of record. (must be of record) can convert 1/3 each year after
or on July 10, 99' 00' 01' not before. There is not a back side after that
date so it's open for discussion from the company.
5. no voting rights for the Class "A" I wonder if you have rights after
they are converted--- my guess is Yes!
5.5--Medinah did distribute 7,465,000 to Frontier.
5.6--Medinah did distribute 1,500,000 to NPEC.
5.7--Medinah will distribute more shares to others of the class "A"
Now if there was 25,000,000 shares of the 144R common cancellation by
a 4 to 1 it would give MDIN a total of 6,000,000 even. Yet they gave
7,465,000 to Frontier so Frontier must have to take care of the "other
share holders" not Mdin.. IMO. As they were given 1,465,000 to many shares.
= to 5,860,000 common..... yet the conversion was a drop from 53,800,334
to 28,800,334 or 25,000,000 so FIRE gets way to many shares or they owe
someone in a pay off or something. Go for it Ancil give me the answer.
Jim..... |
