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Post# of 79921
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gitonwithit

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gitonwithit

Re: WarEagle post# 42992

Thursday, 06/21/2007 11:57:46 PM

Thursday, June 21, 2007 11:57:46 PM

Post# of 79921
You are right, it doesn't make any sense. Why offer to convert common float for preferred status at such a differential?

The only thing I can rationalize is to bring the short seller to it's knees with a super low float. Sounds crazy I know, but I can think of no other reason to redeem shares at such a premium.
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