Longwei Petroleum (fka LPIH)

[Watchdog19]

It doesn't matter to me whether its preferreds or warrant conversions selling. The company's own 8k (March 24th) estimated just under 2 million shares per month conversion to common (on average, between then and now). As a percentage of average daily volume thats what, 35%-40%? I know, estimates of estimates could easily be significantly off. But the point is even if its only 20% of the volume, thats a big hurdle to overcome. It seems every time we get near $2.25 sellers come out of the woodwork. We'll certainly have a clearer picture of conversion percentages with the annual report.

I'm certainly no expert on warrants and if an expert like Bradford has a different take, please share.

I still think its a great company and will watch it and jump back in at some point; just not now.