Alpha Investment Inc. (OTCPK:ALPC) entered into Share exchange agreement to acquire 19% in Legacy Sands Group, LLC from Parsons Energy Group LLC for $57 million on December 31, 2018. The consideration for transaction includes five thousand seven hundred Series 2020 Convertible Perpetual Preferred Shares with a face value of $57 million with a par value of $10,000 per share with one share of preferred stock convertible to six hundred and seventy five shares of Alpha Investment’s common stock with a non-dilutive feature. As of June 30, 2020, there was amendment in consideration under which Alpha Investment will now issue 3382 Series 2020 Convertible Perpetual Preferred Shares at a par value of $10,000 per share with a face value of $33.8 million. Furthermore, each one share of preferred stock is convertible to 1125 shares with a non-dilutive feature. Alpha Investment Inc. (OTCPK:ALPC) completed the acquisition of 19% in Legacy Sands Group, LLC from Parsons Energy Group LLC on June 2, 2020.