Act Teleconferencing Inc (fka ACTT)

[1manband]

The interpretation of them is what is wrong. The first half of the post is complete nonsense.

The company is very much in business (not great business, as revenue is completely flat for the last 6 years, but in business none-the-less). You have to separate the business from the common stock. There is a business there, but the common shareholders don't own ANY of it, thanks to the massive overhang of the liquidation preference of the preferred stock. People read that and think that if they buy the common stock they are buying a piece of a real company, but in reality they are buying nothing but a piece of worthless paper.