Fannie Mae-No Politics (FNMA)

[Donotunderstand]

?
kt

if TH does not believe common can be valued until we know the dilution (final number of shares)

(that is below - right?)

then on what basis is JPS converted to common ?

does he - you - me - pick A COMMON PRICE - THAT IS NOT POSSIBLE !!! -- to convert at ?

$2
$5
$12.50

the illogic - I believe is showing

he likely wants to convert at 2 dollars so 12 common per one $25 PAR but has no - zero - basis to show that is more correct than say $10