actually it says no more than 4.99% of the common stock at a time. So he could dilute the common stock by 4.99% or less at a time... And that only includes the stock of FHAL, who knows how many shares there are of CSHD after the mergers have taken place. Does this percentage change if more preferred shares were issued and now owned by the current owners of CSHD?
It is unlikely that he'll do it now though.. probably after the price resets would be my guess.
The wording also is a little ambigious imo, are the notes convertable after 3 years, or are they convertable now?
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