Here's the breakdown for your easy reference btw. They don't convert 9.99% sell them off and then convert another 9.9%. Does't work that way at least with how they are converting bits and pieces at a time.... My follow up question to you is why not convert 9.99% all at once? Why the bits and pieces? Also if true, why didn't BC go for 9.99% right away when they had every right to be able to do it? The SP was a lot higher back in March 2018. They could have gotten upwards of 400 million shares in one shot.