RD
Although for the most part we do agree but again, when the TERM DIRECT SUBSET is used this is what it means and or indicates
While there is no formal term "direct subset of one issue of stock," the most direct equivalent in investing is a
fractional share. This is a portion of a single share of stock, allowing investors to purchase an investment based on a specific dollar amount rather than the full price of a whole share.
And K's WERE DEEMED a DIRECT SUBSET of the P's and again the Term used by the company was """" PREFERRED EQUITY"""": and NOT EQUITIE(S) So my thought is, there is only ONE COMMON EQUITY and ONE PREFERRED EQUITY or at least this is how I read it
Sort of like in LEH were all of the JUNIOR prefrds are now in what they call """ONE BIG SHARE"""
This may seem a just semantics to you but, I KNOW HOW LAWYER's think and write things in a legal way so as to be dead on accurate in their descriptions of issues .... So it can NOT be misconstrued at a later date
IN SHORT and also IMHO 40K's equals 1 P in this instance Especially as you suggest there might be a min threshold requirement of say 1,000 P's
DA BOYZZZZZZZZZZZZZZZZZZZ bought a ton OF the K's once P's started getting up there in pps, WE KNOW THIS TO BE FACT as the COURT made OW/BRIDGE creek disgourge themselves of some 800,000 K's based on trading with insider information...... They won't want to be played down either and by not following the lines of K's being a DIRECT SUBSET OF P's, I think they WOULD BE OPEN TO MASS LITIGATION on the matter from TEPPER SAVITZ TPG BROWN BROTHERS and one heck of a lot in CONGRESS
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