The preferred shares will be convertible into common stock at a conversion price of $0.40 per share. If all the preferred stock is converted, about 57.8 million shares of common shares would be issued, adding about 46% to the current common float, according to the company. The new preferred stock bears no dividend.
Carola Morena, a Madrid-based company dedicated to boosting music and finding new talents, is seeking to improve the music industry...
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