Even if MBHI survives, the common is going to get massively diluted. Just look at the exchange offer documents. MBHI is amending their articles to allow either 1 or 2 Billion shares. Also, look at the reverse split ratios they are asking to be approved - from 1:100 to 1:250. If they think they may need to do a 1:250 split, and they want a share price around $25, that means they think the pre-split level will be about 10 cents.

Also, take a look at where the Preferred A (MBHIP) is trading - about $1.40. In the exchange documents, you'll see the Preferred A are going to get about 8.8 shares of common. That means the preferred shares are pricing a common share price of 16 cents.

MBHI is going to be asking the holder of its $65M of debt to take a haircut -- what are they going to demand in exchange? About 1 billion shares of commmon, more or less.

I have no skin in this game anymore, just trying to warn anybody who wants to listen.