Roy,
<<<Finally, the Company announced the repurchase of 198,112 shares of the Company's First Convertible Preferred Stock with a $25 per share liquidatio Preference for an aggregate purchase price of $314,206.64.
After this repurchase, 926,785 preferred shares remain outstanding.>>>
I don't understand how they came up with those figures. I would think that 198,112 x $25 = $4,925,800. It makes me wonder if maybe Zucker who is now CEO sold his own as a gesture to the investment community. After all he is long with more than 17 million common shares, and if he can stop the dilution of the preferred convertibles with the objective of maximizing the value of his own equity, I mean all the company's equity holders, then he would walk away with a handsome profit.
Chris
|
