Muscle Pharm Corporation (MSLPQ)

[prokopton]

"This also does not explain one share for 8 bucks convertible to 2 shares instead of one share for $4."

The only reason I can think of is if MP declares a dividend per share and those preferred shares have not been converted to common shares. Their dividend payment would be 1/2 versus 1/1 if those preferred shares were convertible 1-1 to common.

Some very high-priced lawyers worked out the agreement, so I'll end my assumption here because it's way beyond my comprehension of the topic.