Hybrid Coating Technologies Inc (fka HCTI)

[r clarke]

Average price last five days is ~ .0096

so you take a share of Series A and it converts to common

$10 / .00960 = 1,041.66666666667

So Series A converts to 1,041 shares of common








to increase the redemption price per share of Series A Preferred Stock to $10.00 per share; and

b.
to modify the conversion formula for determining the number of shares of Common Stock to be issued upon the conversion of each one share of Series A Preferred shares to: $10.00 divided by the average closing price per share of common stock of the last 5 trading days immediately prior to conversion.




"Need some help with 3 b, what would the share price be? "