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Microcap & Penny Stocks : GNTA
GNTA 1.410-2.1%Jan 9 9:30 AM EST
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To: David Bogdanoff who wrote (48)11/20/1996 3:36:00 PM
From: Khris Vogel   of 68
 
The thing that I can't understand is that the preferred shareholders have priority claims over the co.'s assets if the co. was to fail, if I understand correctly.
If this is the case, it really doesn't make sense to me why they'd convert as this point. In doing so, they either a) don't realize all that much $ on the conversion and subsequent sale of the common shares w/ the current price situation, and b) they lose their standing w/ the co. when they convert from preferred to common.
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