RE: RE: Q2 projectionsHello vowels, I thought there was something unusual about your user name but I didn't see it right away.
Anyway according to the Ink report for today (actually dated July 31st), YLO canceled almost 3.9m dollars in preferred at a cost of just over 2.9m dollars or 75cents on the dollar. The majority were the ones coming due in 2013.
Most of these shares were purchased in July, but unlike regular insider purchases, they do not have to reported to Sedi within 5 business days. Rather they have until the 10th day of the following month. I suggested, in July, that they may be doing this using their revolving credit. I'm not sure why they reported 10 days before they were required, maybe it was to help defend against the probable last push by short sellers before the release of the 2nd quarter numbers?