Conversions at $0.27 means 36.6K shares reduces $10K
It's highly likely that much of the volume this week was due to debt conversion, and while there is hope that the recent reverse split will hold the number of common shares required to a relatively small number, that's probably not going to be the case.
Nearly all of the convertible notes described in LIBED's filings have conversions based on a 45% - 50% discount to the 3-day average of the low trading price over the past 15 - 20 business days.
We saw a burst of selling yesterday, Jan 30, with a 70K afterhours average trade which was likely a debtholder's broker settling with the client.
Looking only at LG Capital Funding's notes, which use a 45% discount on the 3-day avg of the lows over the past biz 15 days, we've got a conversion price of $0.273 = (($0.40 + $0.55 + $0.54)/3 * 0.55).
That conversion price means that $10K of debt reduction would cost shareholders $10,000/$0.0273, or 36.6K shares.
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