Agreed. These preferred shares are convertible. We
One has to consider the position of a French owned Renergy. They were once in bankrupcy or at least in deep trouble funding their Arizona project. They have assets to sell, for cash. With 700M authorized shares on the sidelines at a price of 0.0050 before suspension, instantly convertible preferred shares would have been as good as cash. No need to expose yourself to holding stock in a pinko stock where their only real assets are the ones you just sold to them. Best case for stockholders would be a clause where Renergy would get the assets back if the preferred stock value goes belly up. Depending on how fast they need the cash Renergy might hold for a short while with such a clause. No lie on the part of LLEG management. Technically not a dilution since the stock is already authorized.
With the stock suspension, and if you're Renergy would you be happy with a plunging LLEG stock price after it opens in the Grey havens? My crystal ball says there will be no closing on Susanville announced at the end of the month. In fact there probably won't be any announcement one way or the other about Susanville. At least until another project can be lined up to soften the news.
Market Data 
Markets 
AI
