GRNE converted about $661,000 in old debts into about 189,000 preferred B series shares....each series B preferred converts into $5.00 worth of common shares.
This equates to about $3.50/preferred B series share.
If the stock was trading at .01 the conversion would be 500 commons per preferred series B share ($5.00/B share) giving the converter about a 30% profit if they were able to sell those commons at .01.
Obviously as the pps drops it requires more commons to convert the preferred series B shares which just equals more dilution. At .006/common share 1 preferred series B would convert to 833 shares...if all 189,000 B shares were converted at .006 it would require the release of 157,437,000.....
So everyone can do the math as the pps drops....the dilution will rise. Of course we can't be sure they will convert those B shares but based on the history here I would guess they will. The company always has the option to pay off those conversions with cash instead of shares.
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