ANI Pharmaceuticals (ANIP)

[Just the facts maam]

Jadite, if the conversion gives the institutional investors 5% of outstanding shares, they have to report it. I would have to go back and look at the regulations but I think they have 10 days to report. If the conversions give institutional owners less than 5%, we should see big outstanding share increases at their quarterly reporting.

I don't know if there is an additional onus on ANIP if shares are converted.