Comment by KnowledgeSeekr8on Jun 03, 2021 12:59pm

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Post# 33319612
RE:creation of preferred shares proposed
RE:creation of preferred shares proposedSo I've never been invested in a company that is bringing preferred shares in.
Can someone explain a couple of things to me if they know
- Does this dilute the value of teh common's? Because if the preferred have value and the newly issued shares are granted and not purchased, the overall value of the common would be less valued.
- Can this mean they will be annoucing dividends for the preferred and not to the common? I would be very angry about this after being a shareholder for many years now waiting for that to be a possiblity only to have some new shareholder or insiders pulling the cash out of the company to only those shares that I can't have
- I read the circular and if I vote against it does that mean I have to sell my commons back to the company? I'm confused on the wording of Dissent
- Is there basically no way us shareholders could stop this from going through since they only need 66.7% of the vote for and the major shareholder own 61% of the commons
I really don't like the sounds of this so I am honestly a little worried as I already had a decent holding and I've added another nearly 30,000 shares over the past month or so.
Any information from someone educated in this process would be very very appreciated.