Bogatstvo, maybe I'm missing something, but how can you look someone in the eye and honestly say the "company's position has improved"? it's never been worse according to their own statements..
and to say that "Rainer has the experience and connections to make this work" after reading their latest funding terms, filings and financials is an embarrassment to shareholders intelligence..
I am not trying to be cynical, I am basing my opinion and statements on facts just put forth by the company.. do you not see the likelihood of a bankruptcy reorganization (Ch 11), which would wipe out all "common" share holders, hence the reasoning for the insiders and financiers obtaining and converting to "preferred" shares..