In each case this conversion is not creating dilution, my question to myself is where then are the shares coming from..for Leonite....if they already converted ..either they scooped them up from retail which previously sold off on the Small run ups .....grst repurchased shares into the treasury from the OS and used these shares to give to Leonite.
Or
They will continue to increase the pps and as we go up those who sell off...Leonite going to scoop up the shares you sell..
Really it does not matter to Leonite when they convert. If they wanted to ride the wave from here then they could have converted already, if this is a plan to scoop up retail shares away from individuals then they will convert as the price share goes up and retail sells into it.
Either way Leonite will get the 360 million shares. However because no dilution is taking place the question remains where or how are they getting the shares...
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