I would guess that LAM themselves wrote that language. I don't believe Berman or his lawyer understood in full what they were signing on for. They just knew that had to do this in order to get the debt off the books.
Conversion price is .000825 (based upon 7/14/17 closing bid price).
I was wrong on my earlier guestimate of 110-140 million shares. It's "only" a tad under 79 million shares for the remaining $65K LAM settlement. If they settle ALL the convertible note debt it would be in the 110-140 million share range.
ONCI! Factfinders suggest irrespective of how many creditor's Lam is channeling through to convert shares to $dollars, they have just a few days to complete settlement #July 14.
I made no mentioned of one payment, singularity or one eyed providence.
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