Preferred Shares
At one time, I thought we had 5 million preferred shares that had never
been issued, but were authorized. Brian, as I recall, made mention of
them at various times, especially when talk of TPL merger, etc. was
active.
On page 10 of our agreement with Crossflo, however, I note the
following:
"The authorized capital stock of Patriot consists of 500,000,000 common
shares (the "Patriot Common Stock") and 100,000,000 preferred shares
(the "Patriot Preferred Stock")."
When did we go from 5 million preferreds to 100 million?
TIA.
biajj also wrote--
Re: Preferred Shares.. Yes, I had already written to the company
for clarification. They cannot increase it without Shareholder
approval, so it's a mistake; but it does speak to careless drafting.
Good eye ..:)
Has anyone else tried to contact anyone at the co. for clarification? We need to get this cleared up ASAP. Please post if you have tried to get more info. I will be home tomorrow and will try to contact them myself if others have not gotten answers. GL, ads
