Dilution can come weeks to months AFTER they raise funds due to the convertible financing. LEXG doesn't sell actually shares, they sell the convertibles which have a life of a few months to a year (but without restrictions on how soon they can convert) so the dilution doesn't necessarily happen when they raise the funds but whenever the convertible holders decide to convert their bonds into heavily discounted shares. Therefore it is tough to precisely (even within a month) predict the lag between getting new funds and dilution but it is easy to calculate how much dilution there will be several months to a year in total after raising new funds. The largest incentive to convert comes when the stock trades below .001 as the conversion price drops below the "standard" $.0005. Since the holders have a 20 day look back, they would look at converting when the stock drops below $.001 and may wait to see if it rallies to sell over the next 20 days. If it rallies, they get to convert (i.e., buy shares) below $.0005 and sell for whatever the stock is on that day, if it continues to fall, they still get to buy no higher than 50% of where the stock is that day. The look back is a legal but questionable way to be synthetically short the stock without needing a locate or paying borrow fees.
