FuelCell Energy Inc (FCEL)

[Trading4it]

Question about outstanding warrants. May 3, 2017 Series C & D warrants issued for 12MM CS shares (each) w/conv price(s) of $1.28 & 1 year expire / $1.60 & 5 year expire respectively. The latest 10Q (9-8-2017) say a total of 1,377,540 shares issued as a result of Series D warrant conversion for which the Co received total proceeds of $1.8MM Doing the math this equates to ~$1.28/sh. Which to me says the warrants that were (have been) converted were Series C not the Series D. Think about it, why would anyone have converted warrants in the third qtr at a conversion price of $1.60/sh? I am basing my question regarding accuracy on FCEL's 10Q Pg 15 under Public Offering and Outstanding Warrants section. It's not that big of a deal it just seems inaccurate to me. https://www.sec.gov/Archives/edgar/data/886128/000156459017018506/fcel-10q_20170731.htm