Alpha still owned debt of Optex at that time, remember there was $6 mill debt issued along with the $9 mill equity (which BTW looks like Alpha and Longview lost on big time with the equity stake right along with other equity holders like you apparently although their debt positions worked out much better).
Technically debt is more senior than equity in most cases and this one so to say Alpha and Longview owned Optex De isn't Incorrect unless it says they were the ONLY owners. Then you might have a point.
"In connection with the public sale of the Optex Systems, Inc. (Texas) (Predecessor) assets to Optex Systems, Inc. (Delaware) (Successor), Optex Systems, Inc. (Delaware) delivered to Longview and Alpha Secured Promissory Notes, due September 19, 2011, in the principal amounts of $5,409,762 and $540,976, respectively. On February 20, 2009, Longview sold its Optex Systems, Inc. (Delaware) promissory note to Sileas, as described below. On March 27, 2009, Sileas and Alpha exchanged their Notes plus accrued and unpaid interest of $159,780 for 1,027 shares of Optex Systems, Inc. (Delaware) Series A preferred stock."
All IMO only.
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