Yes, each share of Preferred E that was issued converts to 100,000 common shares of stock - after a one year waiting period which is up for many of us now. Each preferred share cost $2.50. Originally they authorized 70m preferred shares but this amount was reduced to just over 36m. I don't know how many of Preferred shares have been issued.
My suggestion would be for ARNH to negotiate with preferred E share holders to buy back the Series E shares at a negotiated price - until they do I doubt too many will invest in common shares.
Here is the link for the Preferred E shares. My opinions as always.
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