RE: RE: Phoenix Trader...I have a different opinion on the series B preferreds being converted. We know YLO will want to begin paying the common share holders a dividend again at some point in time in the future, say the 15c dividend is restored. Converting the B's into common at this same dividend rate will amount to paying $1.875 for the equivalent number of common (12.5:1). versus the $1.25 for the preferred share.
Potentially they could be converted but perhaps they will wait until the common shares recover over $2, maybe to $4 or $5, or even $6. They have until June 2017 before YLO has to pay them off.