Since both of you accused me of laziness and told
me to read the 200 previous posts when I asked
questions about PZN (which I thought was the purpose of
this bulletin board's existence), I called and spoke
at length with Kerry Reitz in IR. Since you were
both so rude and unhelpful to me, I will keep the
valuable info. she passed on to me to myself.
the superiority complex.
just look at flipper's Profile page. That
precludes even flipper misciting it.
You've heard it
before. The old saw about "Give someone a fish and you
feed them for a day. Teach someone to fish
.......yada, yada, yada ,,,,
I hope all is well.
Mutual fund sellers should out of the way as of today.
Some decent bids today and some actually UPTICK buying
of reseasonable size. Figured that was the case over
the last few weeks drop.
The $64k question is,
has the stock been successful in retesting the $9 low
area. I would think we'd need to see a rebound to the
$12-$13 area to say the "test" was successful. First
signs look OK though.
I don't know if this will meet IRS requirements..
<<If we are given a choice , then it looks like a
a preferred stock that has a mandatory
call date and will pay shareholders face value when
they mature is our best bet.
I recently had some
preferreds that were called at face value. $25. The dividend
was paid quarterly.
This apparently is not
ordinary, but why must all financial
slanted in favor of the company? Comments>>. . .
Let me start by saying that I am NOT a tax
attorney or a tax accountant. However, I do believe the
suggestions in your post are more on track to possibilities
that may work with the IRS as well as benefit PZN and
I do not believe any sort of
common or preferred dividend would work nor would
warrants or rights to these securities. Issuing more
common or preferred stocks would not change either the
assets or the liabilities of PZN. The shareholder's
equity is simply what is left over after subtracting
liabilities from assets. Reshuffleing this shareholder equity
can be done but, IMHO, the results would neither be
taxable nor satify the IRS REIT requirements. In such an
event, the shareholders would have the exact same
percentage claim to PZN's assets before and after such a
If market price of a bond at issue is IRS
criterion, there are a number of ways market price could be
supported. Why not issue a bond that (1) is redeemable at
par after a set period (thus virtual cash), and (2)
is convertible into common. Another approach could
be to have the bonds set at a floating rate (as in
LIBOR+), with warrants attached with a delay feature (you
can't detach the warrants for a certain period). Doc
needs to look at alternatives, keep it "in the family"
so to speak.