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Tuesday, May 11, 2010 9:03:39 AM
I show about 6 thousand shares traded.
I am not sure that the preferreds will get anything either. I didn't read everything on the 10K. They showed a huge dividend payment to preferreds last year, but show very few outstanding preferred shares. The preferred might be attached to a subsidiary. I would have to read it all to be sure. It seems confusing.
The main things to take note of, are:
1. They borrowed a lot of money, and
2. They spent a lot of money, and
3. They now have a huge "current portion" showing on their long term debt without a significant revenue structure to make the payment. That doesn't mean that they will go bankrupt, but it does mean that something has to happen quick.
I have seen where a company will get bought out in such situations, but I haven't seen it recently. The wolves at the door have usually walked away with the assets. It is a mean environment for small investors.
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