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Monday, May 22, 2017 1:05:09 PM
The Iliad note conversion is at $0.50/share, or if lower than that, 70% (probably of an average of a three-day closing price).
So right now, since CVSI is below $0.50, the conversion price is something like $0.30*.7, or about $0.21.
That means that $10K of note conversion adds about 48K shares to the OS, while conversion of $100K would add 480K shares.
If CVSI does a 1:15 reverse at today's price, then the stock would be at about $4.50. The contracted $0.50 no-adjustments conversion price would go to 7.50, but the adjusted conversion price at $4.50 would be $3.15, which would add about 32K shares per $100K of notes.
Of course, active note conversion tends to drive the price down, and so the conversion price will drop as well.
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