Hyperdynamics Corp (HDYNQ)

[Rule_62]

It would appear that the conditions for converting the preferred shares @ $0.25 has been met.

At $0.25 they represent a dilution of approx. 11.3M shares. Given the current shares outstanding is now approx 31M shares, those shares represent a potential dilution of 36%

Ownership of those preferred shares includes a number of HDYN insiders. Interesting given the last PR right after they announced a dry well.

The holders of the preferred shares have no restrictions against short selling.

A potential 11.3M shares in play. Now what kind of play might they try, given they have the capacity to short at will with the cover already in the bag? Run it up and then short the living hell out of it?