Analyzethis.......Sounds good..I did not know they could only do it by 25% increments/quarter.
The math is there, therefore as of March 31st the CD holders have liquidated 50% of the CD and presently it should be at $1.1M
That said and based upon the 2 year restriction upon this CD note....The O/S & pps for all intent and purposes is not affected by the dilution until Fall of 2007. Correct?
Unless the shares converted from the CD are in fact restricted until 2007, in which case the float is not affected. I don't know if they are in fact restricted but that statement has been made here several times. We'll see.
Finally someone has listened to me!! Your numbers are almost right. Because the stock traded at .0002 the other day the conversion made was at .00016 for this quarter! Now do your share calculation over!!!