They also issued 1,327,798,200 shares in the month of October. The effective pps of the share issuances in the last quarter was around $0.00005 per share.
They may have slowed down on the conversions in November (which the volume indicates) as the conversion terms (even at 50% discount) were a little risky. They may wait until they start getting 0.0002/1 pps closes to do the next round.
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