IF "P's" converted to commons...THEN "K's" & "TPS's" would also be converted to commons because they are in the SAME CLASS in the waterfall and MUST BE treated THE SAME....
And the HEDGE FUNDS that own a sizable amount of "K's" and "TPS's" will NOT want to screw themselves with some sort of reverse split that would hurt equity's value because they would also be hurting the value of the equity they own too....
IT AIN'T GOING TO HAPPEN because the Hedge Funds want value for their equity as much as retail shareholders do - imo
Hope our Lawyers are good at CHESS because thats whats needed here. They have to THINK of ALL the MOVES to the very LAST ONE. Because the thieves will screw us every which way and the ultimate F--K Would be to get us after the BK with a REVERSE SPLIT 10,000 TO 1 WORTHLESS.
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