no they didnt- my assumption/guess would be an increase to match authorized shares of 3 billion.
I would prefer it be only 1 billion at the very least for the psychology of it but I expect it to match. I would never expect the preferred shares would be used for dilution as they carry more voting rights and management would not want to lose majority 51% voting rights so they should be used to balance their voting rights if commons are ever issued and for dividend only.
Next 30-45 days should be interesting
-letter of intent closing scheduled in Sept.
- Frankfurt Exchange
- drilling rig orders-pending
- continued updated on oil assets and updates on JV'S and full financial forecast expected on conference call.
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