Red Mountain Resources 10% preferred?

[mindtrek2]

Hi Dan,

I saw that Red Mountain Resources (RDMP on OTC) has just announced a 10% Cumulative Redeemable Preferred stock offering. Are you familiar with the company (based in Dallas) and do you think this preferred is something to consider buying once its listed?

Thanks.

[dan_s]

I've never heard of that company, which doesn't mean a thing. I'm up to my gills in work right now, so can't look at something new. I had a major computer problem this morning.