Mr Lenfest will own 5 million dollars worth of preferred stock and instead of debt owed to him he will get over 75 million additional common shares. But you still havent answered the question of the valuation and P/E ratio, or the profitability question of PEG. Revenue is not profit! A loss is a loss and does not do well for the shareholder. Not to mention the Proxy specifically mentions managements concern of not being able to pay the debt in the first place thus the transfer to shares?
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