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The average closing share price during the 20 days ending on February 9 for IBCP is $1.754.If IBCP can use that as an average to convert the government owned shares that would take $72 million government debt off their back.Not only that the government would be issued shares at the higher average not at todays $0.75.5% interest on $72 million will save IBCP millions. Once the econmy gets back to normal, IBCP would be able to buy back shares.
I think we all knew they were weak especially after the last Conference call. They made this list.http://www.moneyandmarkets.com/files/documents/X-List.htm#Toc211675100