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Strategies & Market Trends : Mafia Stock Mobsta's Social Club (Bulls Board) -- Ignore unavailable to you. Want to Upgrade?

To: creede who wrote (4455)	6/22/2006 7:33:51 PM
From: guilium1	Read Replies (1) \| Respond to of 6687

No idea. Although it should be indicated in the companies bylawys [Articles of Incorporation] registered with the WY SOS [declaration of AS/OS/Preferred and any conversion rates applicable]. I have never seen it though and not sure if it is public. t

To: creede who wrote (4455)	6/22/2006 9:54:51 PM
From: guilium1	Read Replies (2) \| Respond to of 6687

We do know from the filings that the Series B Preferred shares Turek now has, have the 'option to be converted into "restricted shares' (pg. 4, footnote 2) [I of course assume into common shares, but not positive]. What we also know is that 1,000,000 Series B Preferred shares where for forgiveness of ~$5.8 MM, so they have either a par value of ~$5.80 or some type of conversion ratio into common stock. Again, without the AOI I can't figure that out. I have seen preferred shares work both ways, either at a higher par value [sometimes with dividends paid out] or convertible into common shares at an appropriate conversion rate. Now what I am can't remember the answer to: if preferred shares are converted into common shares, do the un-issued common shares get eaten up? I think that is true but I can't find that crumb in the back of my brain. t