QSGI, Inc.(fka QSGI)

[$pmlg]

$2.75+ Coming by 12-10-10?

Just think, 20 "Consecutive Business Days" Does that mean, we could see around $3-$5 range?

Page: F-32: Jul 23, 2010

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7372037

The preferred securities issued in the private placement consist of 143,333 shares of 6% Series A Preferred Stock with a face value of $30 per share. The 6% dividend is payable quarterly in cash or additional preferred securities at the Company’s option. Each Series A Preferred Share is convertible into approximately 13.33 shares of the Company’s common stock

The Company can require the holders to convert the shares if the Company’s common stock price maintains $2.75 for 20 consecutive business days. The Company can redeem the preferred securities at any time after December 10, 2007. Additionally, the holder may demand redemption in cash, for the original $30 per share, at any time after December 10, 2010. Because these preferred securities are conditionally redeemable, they are classified as temporary equity in the balance sheet.

Who are the Convertible Preferred Holders? Sure looks they are wanting to take this to $2.75

amex listings:

well, TOUCAN has been right so far, so here is what he said:

TOUCAN
Share
Wednesday, September 15, 2010 8:11:52 PM
Re: BDEZ post# 14081 Post # of 17461
I bet we get on AMEX by end of Nov.

go to amex site, and there they will show you their listing requirements.