the prefered guys 12% on thier 30 plus million last summer they knew damn well that a bankrputcy filing was coming. Based on thier revenue projections and costs they knew they would never be able to pay the interest. This game by management has played itself out perfectly. Years of bullschit pulling as much cash as possible from the common shareholder is what ICNS business model is.
Has anybody contacted the SEC about these guys? It sure looks like management was working with the debt holders to take the company into bankruptcy. What share of the private company do you think management will get?