Monday, October 15, 2007 12:31:07 AM
You don't buy stocks pre-uplist due to reasonable valuations. That is the whole point of being a successful microcap investor. Anyway, I saw various discussions of the reorganization of preferreds into common implying that could somehow be a ruse to make share selling easier when in fact it is just that while also being a verifiable extinguishment of subordinated debt into less valuable paper. Yes, it is technically a reduction in debt on the books, but so what? It is also yet another bullish indicator that the note holders didn't hold out for maximum conversion value, but accepted their equity conversion for less than face value. How is that anything but good? So to see that couched in some sinister discussion as bad dilution made me laugh.
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