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No. of Recommendations: 0

They went from being an intriguing book value play to a horrible confusing story of preferred shares and convertable notes.

 

They went and dilluted share holders by issuing convertables worth 150Million shares. Previous to this, there were 60M in the entire float. It's unsurprising to see the preferred shares move up on the funding news while the common went down.

 

So.. The story as changed far too much in my eyes, so I'm closing out the position.

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