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Post# of 16405
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Re: TEMPLETON1 post# 8250

Friday, 10/10/2008 4:55:21 PM

Friday, October 10, 2008 4:55:21 PM

Post# of 16405
In my opinion, we have no other choice than to convert to the preferred shares.
To get an initial pps of $1 for the preferred, they have to do a R/S of 1:10,000 on the common shares.
So if you own 1mil common you'll be left with 100 shares.
If you convert your shares to preferred you are not going to lose anything, because in worst case, you would get 1,000/0.0001/0.8 = 1.250.000 shares.
We got no bid now and maybe we have no bid then.
We will only lose, if we don't convert
Am I missing something?
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