could you explain me why they would not convert their prefered shares? You're all thinking they won't do it. They will. This is money. This is part of the company. THis is 40 votes. If you look at ownership, they still own half of company.
I think you mix O/S versus O/S fully diluted. Fully diluted you have to consider all waarants, options and other instrument like prefered shares would be exercized.
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