Monday, June 11, 2012 4:41:48 PM
Sorry but your post leads me to believe you have no idea what is going on with this company and its share structure.
If Mark can convert the 1 million preferred to 400 million, then the common represents less than 10 percent of the shares out there. Not very encouraging to anyone who owns the common.
Mark needs to clear this up (probably won't because he knows that the share structure only benefits him and his family). The RIGHT THING TO DO would be to reduce the rate of conversion by a factor of 150 (that is convert at 2.66 common shares for each preferred). Would Mark do the RIGHT THING? Questionable.
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