Since the year end disclosure, unrestricted has gone up 14.3 million shares.
As far as timing, HHSE is not DWAC eligible, so once a new cert is printed by the T/A, it is mailed to the holder.
Then the holder has to send along with an attorney’s opinion to the clearing firm.
For non DWAC issuers, it is not uncommon that the free trading shares won’t be deposited for 7-10 days.
As far as who converted, an educated guess would whoever bought the remainder of Grahams initial note, so Graham could load up another $80k+ of new converts.