CV Sciences Inc (CVSI)

[Det_Robert_Thorne]

Warned of the conversions months ago

Note: This message replaces the earlier version

I've been writing about this upcoming conversion for several months now, and expected it to start after Nov 19, which it did.

Here's what I wrote on Oct 6:

CANV has been selling convertible notes in tranches for the past four - five months, and the first $510K note will become eligible for conversion on November 19, 2015.

The conversion price is either 60% or 70% of the lowest trading price in the prior 30 days (or perhaps average of that lowest price over a certain number of days. It's confusing).

At $0.60, that means a conversion price of between $0.36 and $0.42, which, on a $510K conversion will add at least 1.2M - 1.4M shares to the OS, but it will be a lot more than that, because the price now is lower than $0.60, and they won't convert the $510K at once, but will convert in stages, with a high likelihood that the price will fall as the conversion procedes.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=117505628