These are the preferreds i was referring to as per the 10-Q you are quoting from...
Preferred shares: Authorized 5,000,000 shares in 2009 and 2008, $0.01 par value, none issued .
What will become of these un-issued shares...are they not a company asset???
So the question is why would the company obviously not retain the commons, allow it to attain the $2.75 price for the alotted 20 days then require the investors to convert the preferreds to commons. This would pre-empt the holders of the pref's from demanding the $30 redemption on DEC/10/10. The debtors will save themselves from the full cash payout and the investors can cash in the shares for $36.66 minimum instead of $30.00.
Both parties win.
On the topic i did notice how you did not comment on the first part of my post regarding the settlement with QSGI and
J. Riconda.
Any thoughts???
