Conversion of B shares only affect outstanding not authorized. After R/S 50 million "B" will be available to issue to insiders again. IMHO
Conversion of oustanding "B" only occur if financing is 15 million and that has already occured. I have several times for an opinion on this matter but so far no one has spoken.........
Besides basically everything Harvard. They keep the authorized shares at 990 million but everyone's shares shrink according to the proposal that passed. Instant dilution.