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Re: sp5 post# 17701

Thursday, 08/09/2018 7:54:49 PM

Thursday, August 09, 2018 7:54:49 PM

Post# of 41257
Currently this is the case:

Therefore, the Series B conversion price is ~$0.679/share (87.5% of .776) for the next 40 trading days.

$16.5M converted at $0.679 = 24.3M shares
With 11.37M warrants (representing additional $18M in paid-in capital; fixed @ $1.6/share) and the pre-financing fully diluted share count of 6M, the new (worst-case) fully diluted OS could not be more than 41.67M



But come September 7th, worst case applies if price stays below .55/share
This comes to max OS of ~45.6M

Worst-case (theoretical only; many were surely converted at best case):
$15M *1.1 = $16.5 converted at $0.48/share = 34.275M common issued.
Combined with the 11.37M warrants this represents dilution of ~88.5%

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