I agree but effect it reduces the outstanding or float and turns the shares into preferred. If this was a normal company trading solidly I would say hey preferred could be good. Reducing the float is a good thing but with xxis I would just be very very careful not to be locked out. Now if the preferred were quaranteed not to be a part of a reverse split do it. I dont think we know everything we need to know and at this point in time I dont trust anyone from Spzi or XXis. JMHO. Not saying this wont turn out bad but just very cautious on this offer.
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