Lol, well I don't pretend to understand Bob's logic here. If its true that the share/warrant dividend only goes to holders as of Dec 31, 2010, that's a bummer for current holders and for everyone really, because there will be less interest.
Of course anyone could purchase shares of the new stock at market value, they just wouldn't get the good 1 for 10 deal.
I think the new class will create initial interest of its own that will play with the PPS here. But there better be some good updates ready to keep it stable IMO.
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