Incredible nerve to suggest the Preferreds benefited the company -- remember Bradley, Canouse and friends hold all the preferred -- never available to public. Preferreds are lop-sided scam which make the "common" worthless fodder for fools. Capital structure from the get-go with Equus was designed to disenfranchise and steal from common, which is exactly what happened. And it appears to be continuing to today -- notice how all the nice clean disclosures fail to state the actual terms of the Preferred shares (or the fully diluted cap table), making it seem the commons have value -- when they don't. Artfully done to fool readers without giving them the crucial facts (the conversion terms of the preferred to common). Just like Canouse did for years while Bradley running company.
The common shares are over valued, since they have no chance of attaining any value because of the Preferred Stock Terms. In is all in black and white.
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