Santoli Files Schedule 13G for CSDX Showing 9.9% Position
Rhea-AI Filing Summary
Antonio Santoli reports beneficial ownership of 13,596,680 shares of CS Diagnostics Corp. common stock, representing 9.9% of the class. That total includes 3,800,000 shares held directly and 9,796,680 shares issuable on conversion of Series B preferred stock, but conversion is limited by a 9.9% conversion cap in the Series B Certificate of Designation. The filing states the reported ownership excludes any additional Series B shares that cannot be converted due to that cap and excludes securities held in entities where the reporting person lacks voting or dispositive power. The filing also notes the issuer’s Preferred A shares carry supervoting rights representing over 90% of voting power, and the reporting person certifies the position is not held to change or influence control.
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Insights
Santoli holds a near-maximum convertible position limited to 9.9% and lacks de facto control due to supervoting preferred shares.
The filing shows 13,596,680 shares beneficially owned, split between 3,800,000 direct shares and 9,796,680 convertible Series B shares subject to a 9.9% conversion cap. That cap governs how many preferred shares may convert into common stock and is explicitly reflected in the ownership calculation.
The issuer’s Preferred A shares are disclosed as carrying in excess of 90% of voting power, which the filing says prevents the reporting person from having de facto control. Watch whether amendments to the Certificate of Designation or additional conversions occur that would change the reported 9.9% stake.