then on the convertible debt that comes to in August, the $100 million, can you help us understand what options are on the table there and maybe give us some idea what your plans are for that?
Matt Pfeffer
Well, good news is we have a lot of options. Bad news is with the volatility and the stock and so far that we’ve experienced, currently it makes it harder to choose which one is the best one because it can change from day to day. And as we sit here at this moment and at least the last time I check the price and I did few months ago. I mean, they are in the money. They can just convert or we might want to and just conversationally, just to make them go away and have this not be an issue in people’s minds or we can extend them or stock them out.
There is just a whole host of the things that we can do. People talk about, worry about dilution and so forth. And I have a said couple of times publicly, one thing I can virtually guarantee we won’t do is the marketed secondary offering. That doesn’t mean there might not be some equity components somewhere down the road. It’s not going to be in a way that those shares would be readily made available to somebody who is a short of stock, just hypothetically.
I mean, a convert is still, is really just a matter of when it [Technical Difficulty], does it occur immediately or does it occur when they convert? I think the dilution from these instruments already have been factored in by everybody. So next time, we can do something without issuing more shares then we’d be issuing on to this instrument, I think we will be in good shape.
And I have almost daily talks with different organization and holders of the convert because they are very interested too. Most of the calls I get are from people looking because they like their paper and they want to keep it or some form of it. And so I’ve always said if we can find a way to do it that made sense for the company, we would probably extend it or roll out a bunch of the instrument. When we get closer, we will be able to see which makes more sense.
