Phoenix Associates Land Syndicate (fka PBLSQ)

[gunnar08034]

cornhole, "The 167 going in for the conversion on the Series III are being c-o-n-v-e-r-t-e-d. Even if they were reissued, then the 167 simply replaces the 167 that came in."

The Series 3 convert at .17 (or 59 common).

Its the Series 2 that convert at .06 (or 167 common).

So it costs you and I 3 times as much to get a $10 pfd.

jmho
gunnar