I don't like those goofy preferreds. The Series B is 300,000 shares with a stated value of $40 when the common stock is trading at $4 and has never traded above $7? The series A was similar before they paid that off. Essentially, the company has $12 million more debt than they are showing. Why such a goofy setup? It seems like a way to either understate the debt or the number of common shares outstanding. To get rid of the preferred, they'd have to issue 3 million common shares at current prices, or borrow $12 million.
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