Okay, but in penny stock land, it is common for preferred shares to be issued in conjunction with toxic convertible debt. It's the only way the execs can remain in control as the stock price declines as the toxic guys convert more and more shares at lower and lower prices.
I wonder why the market doesn't seem to notice this monumental opportunity to buy the next Exxon at around a half penny???
If there are material events that affect shareholders, the company is required to announce them within a few days. No announcements?
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