WestAmerica Corp. (WACC) Message Board

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Microcap & Penny Stocks : WestAmerica Corp. (WACC)

WACC 0.00

Nov 14 4:00 PM EST

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To: JOE TURMAINE who wrote (49)	2/28/1998 11:51:00 AM
From: Ed Bowes	Read Replies (1) of 749

Joe, You are a gentleman and a scholar. This is good news to hear. I suppose the AA non-voting convertable preferred is pretty much like any issuance of preffered stock. The owners have no voting rights. However, it can be put to a vote by the shareholders to convert these shares to common. Sounds like a short term equity partner to me. WACC probably had no grounds for a credit line of any kind. So, someone out tere invested some $$ in a preferred class. Unfortunaly for us, the preferred class will receive the greatest cap gains or dividends first. This is all just my own babling. I can check further. Cheers! Ed.

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