Ethema Health Corp (GRST)

[Sade123]

What Norfolk is saying, why do you assume they'd exercise their notes immediately? That's like expecting an option contract holder to exercise for their shares the moment it's ITM. It's just often not the best course of action when holding derivatives lmao. Why would they get rid of their way to insanely leverage their (risky) investment when it gets them peanuts (in the grand scheme of things).
You treat them as robots that will do something the moment it's possible for them, while, as we've seen on the earnings report pump last quarter and license pump last week, they do wait for upward momentum to dilute the stock, and they don't do it mercilessly.