Wrong!
1) 4,598,693 shares with a 25 cents conversion price could enter the float if the funder decides to convert in lieu of receiving payments on the loan- they are not currently in the float
2.) 4,598,693- shares is not 75%
3.) 4,598,693- conversion price is 25 cents almost 100% higher than todays levels (almost unheard of with penny stocks to be higher than the market pps) very bullish indicator
If the other 3,030,000 enter the float it would be done near-50 cents and they would receive an additional 1,515,000 in cash if those warrants are exercised