Also, take #3 on my additional notes with the 10-K with a grain of salt. We won't have confirmation of this new O/S until mid-January (when the new 10-Q comes out) but I don't think it was a coincidence that the company finished their O/S calculation on November 27th. What's good about this conversion is that it provides enough liquidity via the principal shareholder to where he can sell the majority of his stake to an R/M candidate, without having to dump anything into the market and further dilute. And, even better, these shares will be essentially untouchable by the principal shareholder because he has never sold his position to the market and I don't think he ever intends to.
Like I said, do your own DD and make sure you're comfortable in your position here.
PS: If it turns out I'm wrong about the new O/S, I will amend my post in mid-January. We can go with the current O/S that was reflected in the 10-K, but I think we're dealing with a 128.5M O/S, 102.2M owned by the director and executive officers.
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