Here's the proof - all of the convertible debt has a one year term. As of 3/31/17 there was $6MM of it and much of it (all the tranches are listed in the 10-Q) was issued much earlier than 3/31/17 and comes due much earlier than 3/31/18. At best, by my prior math leads to PROOF of 15 billion shares of dilution by 3/31/18 or sooner. That PROOF is in the 10-Q - an SEC filed document where LEXG publishes the truth as they don't want to go to jail. They publish the BS conjecture in PRs are they are not as heavily regulated. If the information in the PRs were truly material information, they would publish it in an SEC registered 8-K as real companies do and that information would be subject to higher regulatory scrutiny. Read the SEC filings 10-Qs, 10-Ks, and 8-Ks not PRs.
To backtest this information, go back and look at historical debt levels as long back as you would like, multiply by the 1.17x fees and interest and divide by the $.0005 floor to get the number of shares a year from that debt - then look to see where share count was a year later. The proof is backed up by the massively and quickly growing debt which led to a massively and quickly growing dilution / conversion based share count within a year later due to the one year term of the convertible debt. Do this throughout LEXG's history and look at debt levels and shares outstanding - PROOF.
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