krays you're right and that's what I was thinking when I read it but its getting difficult keeping it all straight. Could you weigh in on tradings earlier post:
I'll repost here:
Max... I also think that by virtue of additional clauses included in the "Waiver Agreement", "Exchange Agreement" & "Form of Consent and Waiver" each dated 2/21/2019, the PS hldrs relinquished their PS status to that of CS status. Which in effect means a BK filing would screw them too.
The "subsequent conversion rate" I refer you to above provides PS holders with what amounts to an additional 25% / 87.5% in total number of shares at the lower of .37/sh , prior 10 day avg VWAP or prior day closing pps. It precludes any demand for cash payment vs. CS and replaces the Bi-Monthly payments. It also allows deferment of payment until maturity date which I think is Mar. 2020.
I apologize if I sound arrogant, not my nature nor intent. I'm a bit buzzed, sad and perhaps just full of shit but it's my read. Sorry
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