Posted by: Iglatend Date: Friday, February 05, 2010 3:14:11 PM
In reply to: Iglatend who wrote msg# 2165 Post # of 5755
Okay, PFMS created 4 million series D shares. Reading the filing closely gives me the impression a reverse merger is definitely happening here.
A very important point is the conversion rate is 1 series D to 1 common. Meaning they are NOT getting a bajillion common shares to dump if they choose to convert. The valuation on these series D shares is $1.00/share. They would never convert unless PFMS is trading over a dollar a share. Why issue these? Read the info regarding preference to the Series D shares in the event of a merger. They will get paid well if/when the merger takes place. This will not hurt the common shareholder.
After reading this filing, I am more confident a reverse merger is going to happen and happen in a matter of weeks at this point. This is all my opinion and my own interpretation. Read the filing and see what you think. It all adds up now though.
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