I've seen pictures on a different site.
The 12.5bil common share equivalent was based on the number of shares in warrants, preferreds, and options on 12/31/24. So was the 1.7bil warrants. So was Satori's 8.8bil preferred C's. They are not changing on Dec 31, 2024. Subtract 10.5bil shares from 12.5 and you get 2 bil shares remaining based on - lets say .001 to make the math easy (between .0009-.001). That leaves 2k preferred c's unaccounted for.
Now, 2k shares is worth $2mil in cash. Convert that to stock at .0003 and you got 10bil shares, but only 2 bil at .001.
We know that they started converting on Jan 1 when the price range was .0009-.001. Based on volume and price, I would say that the company probably got most at the higher end pricing. My guess is that they blew through - I don't know... 2k preferred shares?
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