Conversion Solutions Holdings (fka CSHD)

[WillP]

"The ratio of share issuance will use the following formula ($15.00 divided by the Actual Closing Price on October 30, 2006 (x) minus Actual Closing Price on October 30, 2006) (15 / X - X)."

I have not followed this story, but the math is interesting. Ratios are typically expressed as something to 1, or something : 1, and occasionally as something - 1.

The above "formula" seems to be the latter.

Therefore, at a $1.80 close, the ratio would be:

$15.00/$1.80 (to) $1.80, or 8.33 to 1.

So, they would issue 8.33 shares for every one currently held.

If the share price was $15, then the ratio would be $15/$15 - $15, or 1 to 1.

Does that not make sense? Of course, the word "minus" in the text complicates that interpretation. It wouldn't be the first time that someone botched the math in a document.

Regards,

WillP