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I'm confused. From the most recent Q. Don't

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Churak Member Level  Wednesday, 05/06/15 12:10:19 PM
Re: Fedel post# 755
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I'm confused. From the most recent Q. Don't the Series A PREF , which are redeemable for $69,983,600, rank ahead of the common? And since there is only $22 mil cash on hand, what exactly is left for the common?

Series A Convertible Redeemable Preferred Stock—net of offering costs of $1,660,435; redemption amount $69,983,600; $.001 par value; 7,401,832 shares authorized, 6,998,360 and 6,786,334 shares were issued and outstanding at March 31, 2015 and December 31, 2014, respectively

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10662019





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