Replies to post #3347 on Act Teleconferencing Inc (fka ACTT)

[1manband]

Read further - the liquidation value increases by 44% EVERY YEAR. Forever. That $26.7 million in 2007 is now over $150 million or so today.

"The Series AA Preferred Stock increases in stated value at a rate of 9.55% per quarter.

The Series AA shareholders are entitled to quarterly increases in the stated value of their shares of Series AA Preferred Stock, at a rate of 9.55% per quarter. As a result, their liquidation preference and beneficial ownership of our common stock will continue to increase over time at an estimated annual rate of approximately 44%."

http://www.sec.gov/Archives/edgar/data/918709/000119312507070183/d10k.htm

Which means common shareholders get nothing.