I tend to agree with you, with the caveat that if, for some reason, he reduces the A/S and does few, if any, conversions, thereby, not diluting the O/S (shareholders) the ratio of the company the shareholders represent would not diminish.
I have a hard time seeing how that scenario would happen, but IF it did, the shareholders wouldn't lose as much as it seems.
How and why he would do so is beyond me.
I do believe you are attaching too much of the blame to Joe, and giving Jeff too much credit......but, I think you know that I think that. The biggest answer for how much of the blame is Joe's is how complicit he was in doing fraudulent debt wraps. I gather that someone is busy telling you that he is even more guilty than Dean, but, I have my doubts. I tend more towards believing that Jeff was far more guilty than Joe..........simply because he was here pumping away, telling everyone to trust him and buy stock, knowing that he, himself, had purchased debt wraps and that Dean was short of funds.
I am anxious for the truth to be told, and the transparency promised to be there for all to see, so that the story can be put behind us, and we will know what the truth is.
I am also anxious for the truth to be known so that there will not be a chance of people being taken again by the same people. And, if knowing the truth is coming out can prevent a repeat occurrence in another stock, then that would be a great outcome.
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