Fannie Mae-No Politics (FNMA)

[JOoa0ky]

Why would I want to convert right now? I'd be overpaying.

I'll wait for commons to be less than 1 cent first.

Those "conversion" theorists always make a false assumption.

Anyone can "convert" their preferreds to commons. Simple.
Push "sell" to preferreds, then "Buy" the applicable number of shares to commons.

Poof..you converted your preferreds to commons. And, you can do that, now. I know, I did it.

Currently, the "conversion factor" is calculated as follows:
$2.20 (price fnmas) divided by $.48 (price of commons) = 4.583 shares of common for each preferred. This varies with the price of each. (before subtracting applicable selling/buying costs).

This means, you can convert now, 4.58 shares of common to every share of preferred. Nobody gets harmed, just do it, if you want a conversion.

But you dont mean a conversion, YOU MEAN A FORCED PREFERRED FAVORABLE conversion. Somebody (who?) forces commons into selling your commons for little of nothing so that preferreds can pick em up dirt cheap and make mega bucks.
Now, Who is gonna stick their neck out, subject themselves to lawsuits by demanding that commons hand over their money to preferred shareholders making them rich and you broke?
You would be better off kidnapping Bill Gates kids, or worse, Microsoft, and demand he pay you a ransom.