It is mind-numbingly confusing, because both the price and the number of shares fluctuates. The .053 is an old guesstimate I use for shorthand; it may be in the 4's now because of our average 60 day share price. Depending on where the price was reset, the number of new shares can rise or fall. The ultimate maximum is 240,000,000 shares, but could wind up being much fewer; it depends where they get exercised.
This has already been priced into the pps, which was at .27 (after a long fade from around .85) when this was announced. After it was announced, PVCT crashed down to .13, on its way to .01
What effect this will have on trading though is a mystery to me. I can't figure out how to do the math on this. Maybe you will have better luck?