jerry,
ihub's server crashed and didn't take my post and i'm just now getting back on.
will try to recreate my post which was a bad news/good news one.
the form 4 filing does not reflect a stock purchase. what is does reflect is $2.4 million dollars of "second lien term loan" obligations which lampert purchased. these are derivative securities with an expiration date of 7/20/2020.
these securities CAN be converted but are not REQUIRED to be converted into shares of shldq common stock at the conversion rate of 200 shares of shldq for each $1000 of principal amount of the second lien term loan derivatives he purchased.
the break even conversion rate is $5.00 per share. so that price is one worth keeping an eye on regarding els's future actions.
if fully converted, the $2.4 million in second lien term loans could be converted into 480,000 shares of shldq.
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