If you look at page 18 of the 06/30/09 10-Q, it states that in February 2009, Mesa issued 117 million shares and paid about $6.7 million in cash to satisfy $116 million of outstanding bonds at par. In subsequent SEC filings (which we have previously discussed) they revealed that about 28 million shares and undisclosed cash considerations were issued to satisfy an additional $20 million in bonds at par in the months of August 2009 and November 2009. All told, out of the 175 million currently outstanding shares, 145 million (83%) were issued in 2009 to satisfy bondholders.
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