Rennova Health Inc (RNVA)

[nfrequent]

The institutional investors are in a bit of a conundrum however. If you follow the Q1 10-K filing, the cash payoff of all preferred shareholders (and small amount of direct convertible debt) would be equal to roughly 500 billion common shares at .0001. But the preferred shares and debentures only convert to a small fraction of that many common shares.

You can go through the text in the 10-K and add the conversions up for yourself. If you do, let us know. I just scanned through them and was satisfied that it's not many. In other words, conversions at this level are great for common shareholders. Sure, it adds a very few billion shares to the OS, but the liabilities are cleared at a huge discount. Dilution hurt the preferred shareholders too.

I still think it will take an institutional investor to move on common shares (including the Sabby prospectus) to initiate breakout, but the street could take over with enough volume. Conversions don't amount to nearly as much resistance as some seem to think.