Until they are converted and issued and registered with the SEC as sellable they are not part of the float (they are trapped), they can not be borrowed to be shorted, and therefore have no effect on the supply-demand price equilibrium day to day. They may have a future discount, baked into the stock price effect, that depresses the stock price based on future expectations of an increased float that can be more easily shorted in the future, etc.
The big question today, is will the cash burn end, at the end of this year as some analysts have predicted? Also, with the huge new plant in NY fully operational for show and tell, will we see a rush of new orders over the next year?
Ambition with out knowledge is like ship in dry dock. Going nowhere fast!
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