That is exactly it, you are spot on. They did not R/S to pay the bills, they did it to get their house in order. I am certain that they feel this to be fair to shareholders, because they reduced the float from 14 billion to 14 million, without costing shareholders a dime. At the time of the R/S, everyone will have the same stock value they always had. The only thing that truly bothers me is that a R/S will make KK instantly rich, as all of his preferred shares will be worth 10 cents each, essentially 1,000 times more then they were worth yesterday, and an R/S did not reduce his share count like it did to commons. Perhaps he felt that was fair, in light of the fact that he had to cancel 10 Billion shares of his own stock. Either way the company will become much stronger as a result of this R/S.GLTU
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