Well, it's technically not an IPO because this company has already had an Initial Public Offering to go public in the first place. A term that was being thrown around in the one conference call that I was in was "Second Public Offering". What I see happening is the common shares being reverse split down to a point that the company can easily buy back enough shares to bring the PPS up to $2.50. It would have to be a pretty substantial R/S for that to be possible with CDFT's cash reserves. Once the PPS of the common stock is up to $2.50 then the uplist procedure will begin and a few of the preferred shares will be converted for those who have them. It will behave like an IPO in the sense that all these shares will be issued from those who have a stake in the company and then dispersed on the open market to new investors. It's ALMOST like CDFT will go from public to private for a short time (since the preferred shares aren't going to be traded on the open market and that is where most of the value in CDFT's share structure will be for a bit) and then BACK to public again when some of those preferred shares are registered and the resulting common shares become freely traded. Financial wizardy is what it is and it all sounds like it will work in theory but I've never heard of a company doing this before. It will be interesting to see how this all unfolds.
Once again, this is just how I see things and I am in no way an expert on the subject. My logic and assumptions could be totally wrong.
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