Didn't they say that they were going to pay a dividend on the common to all shareholders that they would use in lieu of taking salaries? What happens to that if they swap out their common for preferred shares? Would the preferred then pay a dividend? If so, would the common shareholders lose out on their dividend?
Excellent point. Which is it? Convert common to preferred and lose dividend. Or keep OS at 50 mil and keep dividend. Management has painted themselves into a corner and this is why they will NEVER convert common to preferred
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