Yep, the conditions need to be seen plain and simple. Whether the note has a floor or not. They do a lot of notes without floor (toxic), but that doesn't mean necessarily that SIAF doesn't have a floor price set since it has a better "standing" still than some of these 0005 penny stocks without any revenues. Either way they have a cap of 9.99% of the O/S so anytime they would like to convert more they would first need to sell shares unless the O/S is going up at the same time.
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