And I remember a long time ago (like, last week) when many were saying how great it would be to buy out the preferred to save the less than $2m a year interest expense. Well, now the Company has at least $43 million on the balance sheet because of that. Nick and the boys better get the cash flow rolling in.
Actually, I think they will and this will sort itself out with the share price.
On another note, no telling who front ran the note placement. It was a private direct placement so the ibankers shopped it around the market to make sure it could be done before announcing.
Clearly, someone acted upon that information and cost us 20%.
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