PGI Energy, Inc. (PGIE)

[dcool1]

i see! then they have that covered!

they can also use the 19M shares of preferred stock for financing. such as issuing 100K shares at a 1/100 convert rate to common stock, a set par value, an interest rate and maturity date. imo, this is why they authorized more shares of common stock. to use as financing.

this however, does not necessarily mean the common share holder is being diluted. the company has the option to buy back the preferred stock at or before maturity. usually the terms are 5 to 10 years and therefore the preferred stock holder/ investor is restricted.