I've been thinking about the 30 day notice for the R/s and A/s increase...
Why wait 30 days? Basically our a/s is maxed (less than 200 million shares left) so the current round of conversion will end for 30 days, and the number of shares converted is based on share price. This gives Tom a month to get the pps up without the CDs putting downward pressure on the stock in order to reduce the number of future shares converted.
Why raise the A/s and not only do a R/S? He had no choice. The agreement with YA states that he must have the possible number of shares that they can convert available in the a/s. He may never plan on using these because if the pps goes up the number of shares converted goes down, but since at this time and low pps, those shares needed to be there in order to be compliant with the YA agreement.
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