I wasn’t talking about “par value”. I was talking about the value assigned to the Pref B issuances in terms of the common stock equivalent. That made anything upon conversion of the Pref B almost all profit. Those Pref B were in the money ALL the way down.
As for the math…it’s easy for someone to do it themselves.
Each of the pref B conversions is listed in the filings with the common stock price equivalent at that time. When you take that total… it’s over $50 million.
If someone wants to prove me wrong, which has never happened, that would be how they could do it.
I may at some point do the detailed math to get the precise number but once I got to $50 million I stopped…which is why I have always said “over” $50 million.
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