I'm just starting to go over it. 130 million shares issued in 2014 are for 2 year agreements and average price around .0013ish.. so that means they can't convert till 2016?
The pump on 5/15 trading session. I estimate over 150 millions shares of 2's were buy & sold over the From 5/15, 5/18 - 5/22 trading session.
There are more than 150 millions issue at that time. Plus I know some investor didn't sell their 2's so it does add up to close to 200 million - 250 millions shares.
Adding on what you mention you don't really know how much shares was issue at 2's by DRGV over the years.
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