Act Teleconferencing Inc (fka ACTT)

[Superfly15]

As of the record date, Dolphin Management Inc. beneficially owned 68,945,928 shares of our common stock, which represents
approximately 80.7% of the vote of the Combined Voting Class. The percentage is based on 17,211,632 shares of common stock and
160,000 outstanding shares of Series AA convertible preferred stock as of the close of business on the record date. The 68,945,928 shares
beneficially owned include: 56,680,678 shares issuable upon conversion of the Series AA convertible preferred stock and warrants
beneficially owned by Dolphin Direct Equity Partners, LP

So basically, the O/S is NOT 17 million, it will be around 80-85 million when they convert their shares. Then they could R/S the stock to cut it back down, while keeping their % ownership the same. This kind of scenario just happened with another one I own, this definitely looks worth a play but be aware that you may get R/S'd so only buy a half of a position initially.