Geomet Inc fka GMET

[Churak]

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