It actually explains some of the news lately (the news that was but wasn’t news). They probably had a target price in mind for the upcoming conversions. When it dropped below that price, the conversions start spiralling. And now, even more shares must be issued due to the calculation for dilution (30% lower than the lowest price traded over a period of X days). Plus the interest etc.
So, they recalculate and come up with a number plus unforeseen amounts and you get double the AS.
I don’t believe for a minute it is for acquisitions.
For a Nevada company, all they have to do is RS when it gets too high OS and do it again. Plus, they can issue themselves shares later on, so there is no loss to them.
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