Helios and Matheson Analytics Inc (HMNY)

[420man]

As of October 11, 2018, the November Notes and the January Notes had an aggregate of approximately $18.9 million and $27.4 million respectively, in restricted principal outstanding, and there is no unrestricted principal outstanding. All of the approximate 2.5 billion shares that are issuable under the November Notes and the January Notes represent shares issuable upon conversion of restricted principal under such Notes. The restricted principal may not, as of the date of this Form 8-K, be converted into any shares of our common stock. However, to the extent holders of the Notes provide additional payments to us under the corresponding investor notes, an amount equal to such payment will become unrestricted principal under the Notes that may be converted into our common stock at the election of the holders of the Notes. The number of shares issuable upon conversion of the November Notes and the January Notes is based on a current conversion price of $0.02 per share as of the date of this Form 8-K ( to adjustment as provided in the November Notes and the January Notes).


So, after all the mumbo jumbo, it basically states that WHEN the note holders fund HMNY with the remaining 18.9M & 27.4M (46.3M), that they will convert those funds into COMMON SHARES!!!