The conversion rates are not supported by the filings with the SEC that have been audited/reviewed as the company is fully reporting.
Per the quarterly and annual filings
AS of 9/30/15
O/S 4,620,321,650
ST Debt $610,174
As of 12/31/15
O/S 6,219,391,446
ST Debt $491,698
$118,476 reduction in ST debt and 1,599,069,796 increase in the O/S is an average conversion price of .000074
Now, all of that O/S is probably not conversions as Marc has taken shares as well, not sure the exact figure, but lets say 200M
That would make average conversion price .000085
Per the PR, w have $242k left of variable rate short term debt, that is a reduction of $250k from 12/31/15
O/S as of 4/10 6.7B
Volume 4/10 to 4/20 was 961M shares, to be conservative lets all of it was dilution
That would be an increase of 1,463,851,697 shares since 12/31 to 4/20 and a reduction of $249,698 to short term debt for an average conversion rate of .0001
Once again these are all figures from public filings and are conservative as I am assuming all trades were dilution and not factoring in Marc's portion of the O/S increase.
So lets assume that at worst the rate would be .00005 to .000085
But $242 at worst would be 4.8B to 2.8B shares, still a lot of shares but have a feeling that the debt will be refinanced if they start producing
If they have revenues and prove that the mine has resources, they will easily be able to get traditional financing backed by the mine and can pay off the remaining toxic debt.
Plus if we have a few more 600M volume days will be eaten up quickly.
And say the O/S gets to 10B a market cap of 10M would be .001 PPS, 20M .002
If they produce, PR that toxic debt is gone, no R/S and share buy back you will see a run similar to other recent no bid .00 runners
