GeoVax Labs Inc (GOVX)

[Prophet of_Profits]

Are you ready? I'm about to drop some science fiction on you. But first I will give you advice to read the footnotes to item 12. They explain the table assumes conversion. But here is the math.

Sabby with 725,800 is 4.99% of shares outstanding in that table.
Shares outstanding as of 4/24 is 13,819,101
13,819,101 x 0.499 = 689,573. That is not 725,800!

However 13,819,101 + 725,800 = 14,544,901

14,544,901 x .0499 = 725,791. They rounded up to 725,800 in the table.

Sabby currently has no common shares. The table assumes maximum conversion to 4.99%

Here is footnote 1. I've put in bold the relevant word.

This table is based upon information supplied by officers and directors, and with respect to principal stockholders, Schedules 13D and 13G filed with the SEC. Beneficial ownership is determined in accordance with the rules of the SEC. Applicable percentage ownership is based on 13,819,101 shares of Common Stock outstanding as of April 24, 2020. In computing the number of shares beneficially owned by a person and the percentage ownership of that person, shares of Common Stock subject to options or warrants currently exercisable, or exercisable within 60 days of April 24, 2020, as well as shares of preferred stock which may be converted (subject to specified limits) at any time at the option of the holder, are deemed outstanding.