Ahhhhh, yes. You can't see the forest from the trees.
You probably missed the most interesting point of the article. It's all about the preferred shares they gave themselves. Yes, gave…
From the 10Q:
"Series A Preferred Stock votes on an as converted basis equal to 1 for 100,000. Accordingly, the issuance to Mr. Waldman of 1,000 shares of Series A Preferred Stock will provide Mr. Waldman with the right to vote 100,000,000 shares of common stock for or against shareholder actions (in addition to the shares of common stock he beneficially owns)."
They have effectively eliminated shareholder control of a presumptively public company. They have no one to answer to and can do whatever they want, whenever they want, and the shareholder can't do a thing to override their decisions regardless of their motive.
You, the shareholder, do not exist. You have been stripped of your rights and responsibilities to govern the company.
Look, bullzrun, I've been a shareholder in this company since 1997 before it went public and through all of its transitions, buyouts, and ups/downs. I don't need someone like you or ladyblm (who doesn't know what she's talking about 95% of the time) just regurgitating information that is easily accessible elsewhere. I don't know if she's paid to be here or not, but her posts are worse than bad TV commercials.
Some people on this group are posting relevant thoughtful things. Ladyblm is not one of them.