Friday, September 17, 2010 9:36:33 PM
Doesn't really matter to us how devalued IMGM shares become. Those IDC shares, 310M of them will become 31M shares after the R/S. Why? Because they are issued and outstanding COMMON SHARES. They're NOT preferred shares of IMGM. THOSE shares will be R/S'd.
IMGM would be doing its shareholders a favor IF after the R/S they then came back and reduced the A/S, but that's probably not going to happen, although it certainly could. They could turn right back around and drop the A/S back to 100M and IDC would own 31% of the commons. I'd guess they're going to wait a while to do that as post R/S now and IDC just will own 3.1% of the commons. Doesn't really matter to me. My interest is in their holding of POSC shares. IMGM shares can go to hell in a handbasket for all I care. Don't own any of it, and not buying any of it.
JJ
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