Tuesday, December 15, 2015 3:47:28 PM
The losers, in my opinion, will be the common share holders who are probably mostly retail investors- the ones who got suckered into the story of a turn around through paid advertisements, and are hoping to recoup some of their investment, holding on to dear life. Instead of trying to prop up the common share price in order to prevent dilution, management cuts this exchange offer to give even more shares away for free to their friends who are still holding on to the units. It looked like a scam from the a million miles away, in my opinion.
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