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  • warren_b_fan warren_b_fan Oct 30, 2009 7:07 PM Flag

    Just me...

    or are the terms of the Series K perferred just offered pretty steep? 9+%/yr convertible at $3/share. How can an ordinary shareholder get some of this.

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    • Mystery solved: on October 26 they already knew they would sh*t the bed for Q3 results, so they grabbed some $ while they could knowing that the stock would not see $3 for a LONG time. That said, I would like to know what one needs to do to be one of these lucky Preferred Stock investors with such great terms. There were 8 Series K investors. Who are they? I would like to be one of the Series L investors, whenever that is.

      Will they ever climb out of this pit? Too much debt for a tiny little company like this.

    • I don't think the conversion price is too bad and this really isn't many shares but I do think the financing is a bit expensive. Seems like they could do better on the cost of capital.