HCMC had cashless warrants which were being used to add billions upon billions of shares to the float.
37,412,353,772 shares were added to the float during the first 3 quarters of 2020 (January 1, 2020 to September 30, 2020) through the cashless warrants.
The warrants have since expired and can no longer be used to add to the float.
But long ago, before those warrants expired, some warrant holders choose to exchange their warrants for 20,722 shares of Series B Preferred Stock.
In September of 2020, an agreement was made between HCMC and the Series B Preferred Stock holders allowing them to exchange their Series B Preferred Stock for 20,150.1153 shares of Series C Convertible Preferred Stock.
That exchange happened some time between November 17th and early-December.
Each share of Series C Convertible Preferred Stock has a stated value equal to $1,000 and is convertible into Common Stock on a fixed basis at a conversion price of $0.0001 per share.
$1000 worth of HCMC stock at $.0001/share = 10,000,000 common shares for each share of Series C Convertible Preferred Stock.
20,150.1153 Series C Preferred shares X 10,000,000 common shares each = 201,501,153,000 common shares.
That number is confirmed in the 10Q under the loss per share section:
HCMC is diluting around 201 billion shares into the market through Series C Preferred stock conversions, enriching the same insiders that already diluted over 80 billion shares into the market through cashless warrants.
Moving a stock with 10 billion - 20 billion shares in the float while the float isn't growing is one thing.
Moving a stock with well over 100 billion shares in the float that is seeing billions of shares added to the float on a daily basis is quite another.
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