Dear Walter
Imperium is entitled to 64,731,229 common shares. Imperium is a long-term strategic partner. The conversion of the Note represents 36,363,636 out of the 64,731,229. The remaining amount of shares, in the form of warrants, totaling 28,367,593 common shares, they will have to pay for, at $0.11 each, which would provide proceeds of $3,120,435. This is quite different than the Series B Notes. In addition, Imperium has provided a Working Capital Facility and they will be active to help us in our consolidation strategy.
Regards
Calculation on the remaining effect of the dilution for the existing financing arrangement
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