Wednesday, March 15, 2023 7:33:17 PM
Yes Einstein, the preferred shares CONVERT into 8.8 billion common shares. Yes, the weighted average is adding the 800m OS to the amount that can be (will be) converted.
Read this 10Q on page F-12:
https://www.sec.gov/ix?doc=/Archives/edgar/data/1281845/000149315223001635/form10-q.htm
The Series A are convertible to 1,168,177,320 commons.
The Series B are convertible to 5,373,342,576 commons.
The Series C are convertible to 1,206,351,359 commons.
The Series D are convertible to 1,130,954,399 commons.
Add them up. That's 8,877,967,424 common shares that can be converted. Add those to the 800m OS and you get the Weighted average common shares outstanding and assumed conversion – diluted amount of 9,677,967,424 common shares. Can you read?
The EAC merger agreement states they shall all convert. I just posted that agreement and the specific pages. Argue with reality all you want. It's actually funny.
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