In total there will be 2 099 250 000 new shares in October. That's a lot, and it's actually a +41% change compared to the current O/S. But according to my calculations, with the current PPS VPOR would still be undervalued after the conversion.
In the table below I've written down what the situation could look like at the end of this year: O/S risen to 7,1 billion and revenues at 6,7 million (a careful estimate, the same as VPOR's best year 2015). Even after the conversion in October and with the current PPS we would be about 8,8 times undervalued compared to ACOL.
The share structure sucks, but it doesn't necessarily kill our flow.