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Tuesday, January 15, 2013 5:07:11 PM
It is a false premise based on nothing but speculation that: "if the preferred were converted to common..."
Why?
The Spencers got their preferred shares by converting several hundred million shares from common to preferred. Therefore any assUmption that those preferred shares would be converted back to common is completely false!
And all the math and "claims" that follow are mangled algebra and "do not follow" correctly at all.
And, the URL's missing are the ones (no surprise) where the Spencers converted their common to preferred.
Here, this is not 3rd grade simple arithmetic, but 8th grade algebra.
I do know the difference, unless one is using ancient sanskrit analysis --which I do not understand why anyone would insist on using that antiquated numerical technique-- to do stock issuance analysis.
I have no clue why anyone would insist on using that completely discarded approach as being absolutely without any scientific basis whatsoever.
What's your guess?
mo-
Mech
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