eelf; Perfect! And Thanks...
Can't believe we missed that super-toxic-biggie.
It's our favorite gem. And, it's even Filed with the SEC.
So, we should have found it first. [We ignore i-box stuff.]
This board really should discuss it , ONLY + CONSTANTLY.
Since it reduces the value of what every long
thinks he owns, by a factor of 8, or whatever.
[Still can't find the "87%" in the Filing. Just skimmed it.]
[But, we did notice that each "Preferred" is worth
100 free commons, and has 100 votes, even before conversion.]
Usually the longs try to 'dismiss' the way-over-controlling
"Preferreds" by pretending that they will never be converted,
and, the CEO just needs the voting control, to make sure that
everything goes his way, quickly, without wasting time and
cash on silly votes.
Yeh. Right. Like if he needs to buy a bridge, quick.
P.S.; Those "Preferreds" will never just 'go away'.
And, they get FULLY PAID OFF FIRST, way before any
outside common 'share'holder gets 1 dead cent.
And, if copi is ever sold, [unlikely], and any cash remains,
after paying off all loans + bills + everythings, the
"Preferreds" are required to get almost all of the loose
change, and all of the commoners split-up the 1 scrap.
We can't really believe that the common shareholders actually
voted "For" this massively dilutive give-away, of most of
their 'value'. And, is seems like nobody even had to pay
anything for their "Preferreds".
[unlike swvc, where their CEO paid a little].
Thanks Again, eelf. And, GLTA,
and we'll be back again, shortly.
Averaging-down is profitable, for shorters, only.
