ok...thanks- I had read before but was (and am) still confused. It seems to me, IMHO, FWIW & WTFDIK, that each pref share is secured by a specific note and/or asset and the value of that pref would ultimately be determined by the extent to which that specific underlying asset can be monetized. So I am still not sure what IS the underlying asset of some of the pref shares and how they can (or even if) be monetized and the residual value, if any.
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