I disagree. The preferred shares are not traded separately ... The only way to profits on those shares at .001 par value is to convert them at some point ...
It all depends against which financial risk they are going to get these preferred shares ...
If it against considerable financing , it's all good . If it's "for free" , this is a red flag ...
I guess I don't get that argument. In his letter, Don said they will be used as a means of "consolidating and supplementing our asset base."
I don't see them going to a finance company. I see them going to G8MI whose president, as best I can tell, is Jimmy. I would expect this to be in lieu of some of the $1.2 we owe them for Group8 and perhaps even the other 19% of Group8. That would certainly consolidate and supplement our asset base. It would also give G8MI enough votes to look after their shares.
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