Thursday, October 16, 2008 10:15:23 PM
The preferred shares are not to be affected by the R/S that is coming.
What can happen, the company is giving every common stock shareolder to hold on to what shares they have left.
from the date, you will have 1000000 shares reduced to 1000, after six months you can convert they back to 1,000,000.
What will the pps be at the time. Could they be doing a 10,000-1 r/s and bring it 1.00 or 1000-1 and bring it to .01.
They have several proposals that could be finalized and bringing the price above a dollar.
Here is the thing, after the announced date the clock is ticking when we can convert back. They announced a r/s but it takes 60 days to implement, the contracts are signed another 30-60 days and the price climbs from .01.
The company already announce the pps for the preferred shares are worth 1.00. if it takes another 60 days and it drops to .50 0r even .25 you will have made 250,000.
Who here has invested 250,000 dollars in the company, Mybe a few, don't know, if not you have a made a huge profit from just 100.00 dollars if you only invested 100.00 to have 1 million converted.
Not bad change.
You also have to think that shares being restructure could be buyback or retiring shares instead of a r/s even better bring the price up and I mean up.
I am in. Just thoughts...
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