GNCC Capital Inc (GNCP)

[Tgarfield2]

The price of the common is irrelevant to how much a preferred share makes in converting. You make more on a preferred conversion when you are able to sell higher than the 5 days average you are converting at. That is easier at lower prices than higher prices.

Selling 0.0002 and converting at 0.0001 is a better profit than Selling at 0.001 and converting at 0.0009.

X- preferreds only get the 15% discount, while the B- preferreds have the 50% discount. B-preferreds are the ones converting. Although a worse discount, the X-preferreds were all 50% free to start with.