Telvue Corp. (fka TEVE)

[agribusiness72]

The dilution was the conversion of debt to millions of presplit shares, has nothing to do with the preferred shares. The preferred shares were just the last 5 million dollars he gave. The dilution happened when Mr Lenfest accepted common shares for the 25 million dollars that were owed him, thus the increase in shares prior to the split. This point was made at the time of approval of this deal. See my previous posts. And the argument is old yet still valid. Post split shares from 100 dollars to 11 a loss of 89 percent...dilution period. Below is from the financial report, of course some will continue to argue its the shorts an even older yet unsubstantiated claim with no basis. But I ask again, how many FTD's are listed today??

The Company consummated the Conversion Transactions on March 16, 2012. $20,941,000 of the principal amount of the Notes and Science Note, plus $4,921,082 of accrued but unpaid interest thereon through March 16, 2012, was converted into 369,458 shares of the Company’s Common Stock (as adjusted for the reverse stock split disclosed in Note 6), at an adjusted conversion price of $70.00 per share. The remaining $5,000,000 of the principal amount of the Notes was converted into 14,285.714 shares of the Company’s Series A Convertible Preferred Stock.