Yes, it says 35 Million twice, but it also references the 3B A/S about 4 separate times.
The way I'm reading it, expect about 35M shares to be outstanding shortly after the RS. Those will account for converted notes, as well as any Series X that they decide to dump.
The current OS will account for 1.75M shares of those 35M shares. Which, overall, sounds like the current stuck-holders are getting the shaft. Like, big time.
Nope, still not a paid basher. Just here helping to provide clarity and understanding to complex capital structures.