What you are seeing is what is coming to market after the conversion. The conversion can be no more than 4.99%. Refer back if need be to my previous mention(these figures exclude today's block).
This was my last calculation prior to today's block trade:
"60,000/ .0044=13,636,364 shares - 5,729,134 shares= 7,907,230 shares coming into the market
60,000/ .00565=10,619,469 shares - 5,729,134 shares= 4,890,335 shares coming into the market
60,000/ .0069=8,695,652 shares - 5,729,134 shares = 2,966,518 shares coming into the market "
I am currently rounding the outstanding to 58,000,000(including today's block). Apply the 4.99% to that, then apply that to the share count figures. If converting at the low of the day @ 4.99%, three(2 1/3). I am using the middle figure(average of high and lows of the day). They do not have to convert @ 4.99%, it could be less. Just watch those blocks, compared to bid size, et al.
I am figuring roughly 4,000,000 shares yet to come into the market after conversions(middle average figures). With that said, you might see as little as 1,000,000 shares left to view as such. All should be known by Friday, and I may be able to exclude some calculations, which would be great.
Important to note, the first row of calculations is based on converting on the low of the day. That is your extreme, and something that I do not add any weight to. But nice to know.
Get it?....if not let me know and I will follow through. Know where you are at, but more importantly, know where others are at. I know both, and am smiling currently.
