I understand the thinking behind that but keep in mind value is subjective. A investor in my opinion will want a share modification, the preferred doesn't trade on the open market so trying to liquidate a 500,000$ share only works if there is a buyer. Riskier in my opinion.

If they get a investor I think there will be a major overhaul to the structure, but I don't think that's necessarily bad either. I just think it's the most logical course.

Obviously I could be wrong, but we will know either way soon enough, I'm sure whatever is going to happen will happen by the time the last loan is due, let's just hope the have a whale or 2 lined up ready to move

Keep in mind it's hard for baltia to offer a yield with no income. Let's just hope for a deep pocketed investor