Someone is sucking up these shares because when you are talking about 1 million share trades going off, retail buying is very questionable but possible. Maybe it is Symtomax sucking up the EAGLE and/or GW conversion shares. Maybe it is insiders buying! Interesting thought for sure.
Now lets get to the correct number of shares necessary if all Preferred A shares are converted, which I doubt, and all of the debt from the EAGLE and GW notes are converted.
Some assumption have to be made. First the price of .0065 which was on July 7th and within the 15 days established on the 2 notes. This will be variable as each day ends. Also for each conversion made, the debt is decreased so here we go:
Preferred A share conversion = 470,599,900 shares per S1A
Issued = 88,349,536 shares per S1A
EAGLE debt = $423,919 per S1A therefore 100,335,857 shares
GW debt = $155,125 per S1A therefore 43,391,608 shares
Total shares = 702,676,901 if everything is paid and all the Preferred A shares are converted.
Remember that 470,599,900 shares of the 702,676,901 shares is attributable to the Preferred A shares. Will they convert? Who knows so we will include them for argument purposes.
This amount is far from 1.7 Billion shares previously claimed.
The calculations of the EAGLE debt was 65% of .0065 = .004225 and
the calculations of the GW debt was 55% of .0065 = .003575
If GCAN pays off EAGLE or GW the way they did EMET then the needed shares are greatly reduced.
Just providing the facts as provided in the S1A. Anyone can verify these numbers from the S1A and do their own calculations.
Thank you
JMHO
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