Blackout Media Corp (BKMP)

[McDee]

Art......I don't think they wanted shares

The holders converted and sold. This is what the latest filing said, "As a result of the buyout announced it triggered a conversion provision of the convertible loan agreement that supercedes any previous agreed moratorium on conversion privileges."

If you'll notice, April 24th was the day of the initial buyout pr. That should have spurred a stock price increase. And though it did result in a spike in volume, the buying was met with selling. About 5Bil shares were traded for that week.

Remember, the moratorium was the reason BKMP spiked in 2006 (no conversion, no selling). But if the average investor knew of this provision, they would have been sellers on the news, as well. Instead, everyone was scratching their heads as to why the price went down on a buyout offer. How convenient that the average shareholders weren't privy to this clause.