Wave Systems Corp. (fka WAVXQ)

[Fullmoon]

internet, of course that was before

many of Citi's problems were understood.. It was the disclosure of their financial condition that caused the drop in the price of the common, not the issuance of the pfd, which apparently was oversubscribed.

Of course, nobody is going to convert at $33.73 when they can buy it at the market for $19. If Citi common can climb back to $50, the pfd would be worth nearly $75,000.