Welcome HIMR*fan or firsttimepennyman.  We are al

Welcome HIMR*fan or firsttimepennyman.  We are all waiting for news from HIMR which we are led to believe could come next week.  Your questions regarding the conversion of Class C shares are good ones, but we unfortunately are unable to answer.  As I stated to HIMR management, the announcement of a massive share reduction plan, and the continual retirement of shares for months and months with great fan fare, seems all for not without an agreement with owners and debt holders preventing conversion.  The answer we received from HIMR management appears rather condescending, and simply said such an agreement would be a material event and would require public notification.  So I guess HIMR management feels we are all fools and too stupid to understand the basics.  Thus, instead of addressing the issue and talking to us intelligently, they chose to talk down to us.  Perhaps they felt we were foolish for asking such a question?  However, they did say that reducing shares was still a top priority.  Remember, the share reduction plan was not HIMR's idea.  Instead, it was required by North Cal Wood Products as a condition for their MOU.

Is the conversion over?  We hope so, but we do not know for certain.

Was the company aware of the intent to convert?  Yes.  The company must be notified in advance of all conversions as stated in the financials (amounts and conversion date must be specified).

Finally, everything changes once HIMR receives its first concession.  With the first concession, HIMR will have collateral for financing their growth and a firm source of revenue to bargain with.  I would hope agreements could then be signed exchanging debt for a percentage of future revenue.  This idea was offered to management.