We can both agree it's incredibly easy math, however where we will continue to disagree on is the number of common outstanding shares at the time of preferred conversion.
I'm not arguing that, based on their filings, there are 465M shares currently outstanding. However, what makes you believe that the company would be foolish enough to convert those preferred shares to common shares, at this point in time? Their share count would explode and their PPS would implode.
Why would they purposefully balloon their share count now? It makes no sense. It behooves them to wait until the 300M reduction is complete prior to converting the preferred to common shares at the rate of .0018%.
By doing so, it creates less dilution and increases shareholder value.
