Could anyone explain the difference between preferred and common and why the company would do this / good or bad for the common shareholder ?
Example : The Company has completed a conversion of amounts owed of $330,000 from Rob Landau and $280,000 from Mitch Geisler in exchange for 277,273 shares of new preferred stock. The preferred shares are convertible and hold the voting rights to 1,000 common shares for each preferred shares.
The Company has converted $100,000 owed to ZDG Investments Limited into 45,455 shares of new preferred stock. The preferred shares are convertible and hold the voting rights to 1,000 common shares for each preferred shares.
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