Ah! So, now you admit they aren't WORTH $1K, as you stated. That's just a marker. We'll see the real VALUE, once the dumping starts. WORTH is a whole other story. The "preferred shares" are backed by nothing, which means they are WORTH nothing. Why do they think creating some worthless sheets of paper and calling them "preferred shares" gives them any value at all? They're not convertible for common shares. They don't get any special dividend or voting status. They serve no purpose other than to make people THINK they are getting SOMETHING for nothing, when, in fact, they are getting NOTHING for NOTHING. I never even converted the OLD "preferred shares" after they ripped us off with the mandatory conversion of the "debentures", because $50 was too high a price to pay. You remember that one, don't you? They did what they called a "buyback", stole shares from shareholders with the promise to pay $1K per debenture in 2011, but then changed their minds and forced a conversion to get more fees ON TOP of the shaes they stole for free. Then they r/s the "preferred shares" and scammed ANOTHER $50 from those willing to believe the crap. At that time, Pealie's sis tried to tell me they were worth alot of money, but wouldn't tell me how they could have ANY value at all. That told me enough to not bother wasting $50. Common sense saved me from losing more money to this scam. And now the poor suckers that paid $50 for the last r/s get to pay ANOTHER $50, so they can spread around more worthless "preferred stock". It's amazing how they can get away with this crap over and over. How long until they do ANOTHER r/s of the common stock? Or will is be another "buyback"? You can tell us.
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