Wireliner, I'll have to read up on preferred shares and RS but in the meantime, I don't know if you saw Wing's post regarding his e-mail from Paul and RS:
In addition to the dilution issue,
which I discussed with Paul by email very recently, (and btw you are exactly right) I also asked about a R/S because it seems to be on quite a few minds. Here is my paraphrased response to that;
Paul said this has been discussed at Spooz for over a year, but they have no intention of reversing this stock back. Paul acknowledged reverse splits never work, but would allow them to raise money from an underwriter that represents what they call, “a higher class of shareholder.” Paul stated that they do not subscribe to the “class of shareholder” designation at all and never will.
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