Thread: JO does it again... (and Mesa recall rumor)
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Old 01-07-2009 | 06:23 PM
  #15  
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rickair7777
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From: Engines Turn or People Swim
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Originally Posted by DENpilot
Actually, I believe in the paperwork I received as a shareholder, it said that in the terms of the bonds, the company is allowed to issue stock in lieu of cash. It also says it in the DEF14A filing on November 22.

Keep in mind, that this is also based on the bondholders exercising their right to sell it back to the company.
True, they can pay with stock. However...

A reasonable stock issue is one thing, but issuing TEN times the amount of your stock currently on the street, which is valued in pennies, sounds outright fraudulent.

If I were the bondholder, I don't think I'd accept money printed by JO...
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