"The shares of Series C Convertible Preferred Stock and Series D Convertible Preferred Stock are not convertible into, and the warrants are not exercisable for, shares of common stock if and until the Company’s stockholders approve the transactions."
Why they dont need to file a 5% ownership. Basically these guys are taking a huge risk investing when it needs to be approved by stockholders.
Now are the preffered shareholders allowed to vote? Would assume yes. But none of these investors are allowed to sell.
Imo these guys are setting up to sell the company in the future IF everything goes well. Also allows the investor to be a secret.
Everything all imo
SHC Price at posting:
2.5¢ Sentiment: Hold Disclosure: Held
