Replies to post #33359 on ZA Group Inc (ZAAG)

[wallstreet1231]

Not stupid at all - series E preferred shares convert at a rate of 1 preferred for 100,000 shares of commons. Series E preferred shares cost $2.50 each. Therefore the acquisition price of common shares is .000025. So selling them at .0001 yields a hefty profit - thank you very much.

PS The good news is the par value was changed for new issues of series E preferred but issued shares convert at the above issued rate.

My opinions as always.

[wallstreet1231]

The 8 plus million shares traded today can be explained this way: - series E preferred shares convert at a rate of 1 preferred for 100,000 shares of commons. Series E preferred shares cost $2.50 each. Therefore the acquisition price of common shares is .000025. So selling them at .0001 yields a hefty profit.

PS The good news is the par value was changed for new issues of series E preferred but issued shares convert at the above issued rate.

My opinions as always.

[wallstreet1231]

And then imploded back to .0001. I feel that it is important to paint the 360 degree picture, not just the 180 degree view.