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Wednesday, December 07, 2016 4:12:16 PM
Per the PPJE PR, the first $50K note can be converted at any time, at 70% of the low.
Taking conversion "at any time" literally, then much of today's selling at $0.0001 could have been conversions made at $0.00007.
Converting $50K at $0.00007 results in 714,285,714 shares added to the OS.
I would expect that future tranches from GPL will be priced at 70%, or lower.
Which is why Basu won't lower the current AS from 20B until after the next reverse split.
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