SRM, I need some help here digesting the latest development.
According to the latest interview, BTGI will be converting some of the debt to preferred shares, thereby not diluting the common share.
However, in the interview, it appears some of the convertible debt will still remain, even though he 'doesn't expect the debt holders to convert after the AS raise'. There are no discounted CD's as far as I can tell in the 10q. (However, there are some CD's with unspecified terms so I can't tell for sure).
If there are no discounts, does the following math look correct?
For $100k note, at a pps of $0.003, the total shares introduced to the market would be 33.3mm?
