Andiamo Corp. (ANDI)

[valuepicks]

I don't think it is the preferred holders converting. Look at this way as per CEO these preferred holders are from 2002 old timers. the stock traded at much higher prices last year with less O/S also. They never converted then then why now when the company is in growth mode and SP expected much higher prices.

I think the CEO made it up and used the shares for something else and literally killed the rally with that news I only hope he wont continue doing that everytime Sp reaches 0.005.

one exception i can think of is if the CEO owns any pref. shares and sold them to raise money so that he can fund the operations by loaning the company... jmho