No comment on seniors. But, preferred shares are equity. The value of the seniors on the books is minimal. What kills us is the RV. I believe the Seniors are also not convertible. I could be wrong here because I am recalling from very long term memory.
One good way to tell who owns a company is look at the BS. If they are listed as Equity, they are owners.
What I do believe is that at the end, the gov will take a cut in the RV for reasons previously stated.
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