RE: RE: What a great idea! "The ONLY reason the board will not force conversion of the Pref A's on Apr 1 is if the common is close to or above $2. "
Why would this stop them from converting? If the SP goes above $2, say $4, then YLO would need to issue fewer common shares. Mind you, all the preferred shares would have recovered somewhat in price but it would still be a benefit. If, by Dec 31, 2012 the credit facility is not cleared and renegotiated, then YLO will likely be foreced to convert the A series. Remember, under the credit facility, YLO cannot issue new debt without approval. This may include preferred shares.