poofy85
Jul 22, 2010, 09:53 PM
I am confused by the wording of this: "The company has 400,000 preferred shares. They are convertible into common shares 6 for 1 at the option of the investor".
I am confused by the 6 for 1... Does this mean for every 1 preferred share they get 6 common shares? Or for every 6 preferred shares they get 1 common?
I am confused by the 6 for 1... Does this mean for every 1 preferred share they get 6 common shares? Or for every 6 preferred shares they get 1 common?