OMG that completely flawed analysis couldn't be any more dead wrong lmfao!
Valuation metrics based on a PubCo's O/S are dramatically effected if/when a major O/S reduction occurs, and all relevant PubCo's have preferred shares issued to insiders with future accelerated leak out terms attached!
And it's total and complete BS for anyone to even remotely try to suggest that retiring a significant chunk of a PubCo's O/S in exchange for preferred shares isn't a major positive for the underlying valuation metrics involved...especially since anyone with even a cursory understanding of the underlying market dynamics involved knows full well that the conversion feature terms for insider preferred shares always possess way more positive future accelerated conversion features attached for the insiders involved than commons already issued into a PubCo's O/S...and it's laughable that anyone would even attempt to suggest otherwise!
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