So even with 30,343,950,000 common shares Dustin Secor wouldn't be a control person.
Not at all. If that would be 10 percent or more of the commons, he would be an affiliate who owns a control block. A company can have more than one control person. Often several insiders own control blocks. And they are, by definition, affiliates.
And as the designation specifies, the conversion rate is...
...subject to adjustment as may be determined by the Board of Directors from time to time (the "Conversion Rate")
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