InvestorsHub Logo
Followers 11
Posts 288
Boards Moderated 0
Alias Born 10/29/2009

Re: bwana12 post# 85

Tuesday, 02/21/2012 1:54:09 PM

Tuesday, February 21, 2012 1:54:09 PM

Post# of 270
Sorry, but Yes they are. Liquidation preference on the Mezz Equity (convertible preferred shares) is $791mm as of September 30, 2011. That puts the 8.5% preferreds -$295.6mm out of the money before the preferreds see $0.01 and $372mm before the recovery is greater than $16/share.

If you think otherwise, please explain.