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Replies to post #4874 on CV Sciences Inc (CVSI)
Det_Robert_Thorne
12/01/15 12:25 PM
#4878 RE: blindjohn #4874
CANV has been selling convertible notes in tranches for the past four - five months, and the first $510K note will become eligible for conversion on November 19, 2015. The conversion price is either 60% or 70% of the lowest trading price in the prior 30 days (or perhaps average of that lowest price over a certain number of days. It's confusing). At $0.60, that means a conversion price of between $0.36 and $0.42, which, on a $510K conversion will add at least 1.2M - 1.4M shares to the OS, but it will be a lot more than that, because the price now is lower than $0.60, and they won't convert the $510K at once, but will convert in stages, with a high likelihood that the price will fall as the conversion procedes.