Strategic Asset Leasing Inc (fka LEAS)

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Preferred shares have a price that they can be sold at that is unrelated to the current stock price unless converted to common stock, but in the case of the preferred shares mentioned here, they were suspended.

I would like to point your attention to the sticky at the top that starts with Working25...third one down...it explains everything.

The link basically states that a lawsuit was brought against some securities firm of which Mr. Overcash was made available a ton of preferred shares, but he has been charged, arrested, and has been banned from penny stocks.