Replies to post #3317 on Act Teleconferencing Inc (fka ACTT)

[1manband]

Because of the debt owed to the ACT preferred stockholders, the $44 million goes entirely to them. Nothing to the common stockholders.

Which is why the common stock has been trading for a fraction of a penny. It has absolutely no value. None.

[retireat40]

We already know all of that...it has no bearing on what we've been discussing. The preferred share owners are due up to $150 million of any sale proceeds. Since the proceeds are $44 million, the preferred shareholders get all of the money. There is no way around this. The commons get nothing from this transaction.