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Sunday, March 29, 2009 5:11:42 PM
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"If at the end of 2008 there were still 1 million preferreds issued and outstanding with $4.3 million in preferred stockholders equity, that makes each preferred worth $4.33 at the time.
Dec 31st the average stock price for the preceeding 10 days was about .0007 making each preferred share worth 26,784 common shares at the time."
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Now what would the Outstanding shares be with the converted Preferred shares. Either they have filed false and misleading info with pinksheets or this is very ugly.........
26 784 X 1, 000, 000 + present outstanding of ~ 1.6 billion = WOW thats a pretty darn big number, isn't it?
BTW, another big red flag for pinkies is a complicated share structure, as multiple classes of stock.
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