RE: G & M I wouldn't call it much of a win.
With the new strike price for the warrants in todays announcement, my calculations of the values of the various stocks and debs at the strike price is:
-Convertible Debentures $8.29 per $100 original value (excludes Oct.1 payment of $3.12 )
-Preferred Shares $1.76 each ($7.04 per $100 original value)
-Common shares $.14 each ($1.04 per $100 of March 2005 issue at $13.45)
These values do not include any value for the warrants as they have very little worth until the strike price is passed. Now the question is will the new common shares ever make that strike price?