WARNING: FALSE PUMP BY BAGHOLDERS...READ...
from the last 10-K ... page 7....
The terms of our outstanding Preferred Stock provide that in the event of a liquidation or dissolution of the Company, the holders of our Preferred Stock would be entitled to a liquidation preference before the holders of our Common Stock would be entitled to receive any distributions from the Company. The liquidation preference is equal to the original investment amount of the Preferred Stock ($40 million) plus paid-in-kind shares plus accrued and unpaid dividends, and currently totals approximately $60 million. Therefore, if the Company is dissolved following the Asset Sale, the estimated remaining net proceeds (approximately $23 million) would be less than the liquidation preference to which the holders of our Preferred Stock are currently entitled ($60 million). Absent a concession from the holders of our Preferred Stock, the holders of our Common Stock would not receive any distributions as a result of the Asset Sale or subsequent dissolution of the Company.
THEY WILL PLAY WORD GAMES WITH THE WORD "DISSOLVED" , EITHER WAY THEY ARE UNDERWATER TO THE PREFERRED HOLDERS TO THE TUNE OF TENS OF MILLIONS.
BTW, SELLING ASSETS= LIQUIDATION
