Muscle Pharm Corporation (MSLPQ)

[turokman]

The way I read it is, he has the option to convert at:

at a conversion price equal to the greater of

(i) the closing price per share of the Common Stock on the last business date immediately preceding the Maturity Date and

(ii) seventeen cents ($0.17), in each case rounded down to the nearest whole share. The Company may prepay the Refinanced Convertible Note by giving the Holder between 15 and 60 days’ notice depending upon the specific circumstances, subject to the Holder’s conversion right.

So this means if the PPS is 0.30 on the last business day, he will have to convert at 0.30. If the PPS is 0.15 he will have to convert at 0.17.

I am happy for you that you have been right so far with this one. But you did think they wouldn't do 50m in 2109 sales and they did 80m. It's ok, only off by 60%. I suppose math isn't your strong suit.



https://www.sec.gov/Archives/edgar/data/1415684/000165495420009569/mslp_8k.htm