First, they were buying time. They have tried everything they can to keep from having to raise the AS. I don't think they want to raise the AS anymore than we do.
Second, they were losing control of the company. Giving up 100M shares in order to create and convert to the new class of voting shares protected their control of the business.
To me, this was a smart move that both protected their management control and tried to protect our share equity. But with all of the problems they had with the old landlord created by the Nacio group and the courts, it was only enough to buy them a few more months.
If you check out the recent 8K, I think you will agree with these points.
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