Why am I so hostile toward the idea that there's a floor below .48? Probably bias. That would require me absent mindedly scanning over(a distinct possibility) a loop hole, and misguided thought process of positions at .48 right here right now being a good idea. If no such loop hole exists, right here right now any position taking under .48 is gutting retail like a fish.
It also requires AMDA to advertise a .48 floor all over the paperwork then have a secret trap door against their advertised .48 floor. I don't think so. I want to believe in fair AMDA with integrity. A fair deal is if I ran a deal a year ago for a 1.24 floor conversion, any future deal I sign will allow you to convert at the new deal conversion price. So you`re not stuck converting your deal at 1.24 while my new friend converts his deal at .48. That seems fair.
The same way if a new deal materialized with a .24 floor the .48 floor guys would get the new deal floor.
Why not convert to common at .48 at .20 cent common stock price? If the intent is to buy up and immediately sell off to retail it's a losing trade.
If the intent is to take a position. I have shares at .48 and am fine with this. It's a buy at .48 and if its a buy there its a buy at .20 weighing current book values and forward looking statements. Sonny probably is just better at gauging the underlying value of common than retail is, depending on where these shares even came from at .20. Either way thanks for the cheapies guys. I'd like to suspect I know where my new shares came from, rather than being "that guy" that just gutted some poor long here.
