I think he was reassuring investors that it wouldn't happen at the trip level solely for the purpose bringing up the stock price and then dumping his shares in a massive selloff. If you reread that note on the rs, it mentioned:
1.) It would happen in 2016. That could mean after a significant rise in the pps later on in the year.
2.) The conversion to restricted common shares would occur before the rs, not after. So they would be devalued by an rs too and that would not make sense from the standpoint of Tom making money on the conversion.
Because they become restricted common shares it may have little to no impact on us common shareholders. It may be a technical way to retire or eliminate the Series C Preferred shares in a way that doesn't impact on the common shares in a negative way.
Like I said, we have some questions.
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