Again speculation... No one knows... I asked this question earlier and no one has answered. If anyone knows please enlighten me. If the buyer assumed he would be purchasing all o/s shares with the preferred shares being included in that number, is it a legal thing to have them convert to common shares. If it's not a legal thing then why convert them and add to the float and scare the hell out of everyone into selling off...
Huh, maybe that is the answer? If THRR agreed to increase the float by converting preferred shares to common shares to drive down the price so the un-named buyer could buy o/s for less than .01 as some of you have eluded to on this board, that would be pretty wrong if THRR agreed to do that. All we know is the un-named buyer agreed to pay .01 for our shares which is now gone down significantly since the float was increased. It makes me wonder if the corporate guys are getting compensated any other way in the buyout... i.e. granted shares in the new company?? None of us know because we do not have any details of the buyout other than .01/share. Makes me wonder... All of this is my opinion of course.
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