Blackout Media Corp (BKMP)

[uwlungman]

Jim. We don't know the terms of the Preferred yet...
My guess is that it will work something like this. Initially, there will an exchange rate of maybe 1 million Preferreds to 1 Common but this rate will decrease over time to reward longs. The company will continue to buyback shares at a faster rate than Preferred will be exchanged so the overall result will be a decrease in O/S. As long as O/S is decreasing, I don't consider it dilution.