Depends on the conversion strategy here, Because it doesn't matter what the PPS is, the conversion amount is based on the Avg 10 prior days closing prices., so as they continuously sell shares, the lower the PPS goes, and the next days conversion amounts will be based on Lower avg prices, . Preferred L series is for $1,245,000, so. when they decide to stop for a pop, or sell it until that balance finishes off the debt, would be my guess.
It looks like the debtor converting cares less about PPS.
No clue how much $$$$$ has been offset from selling shares, but, It could stop at any moment, or grind lower day after day after day.
Should get an 8K at some point, but charting back to Dec 1st when it became eligible to convert could be approximately 10 Million , thus far, and approximately 18 million since the RS.
Many more shares can come into market. I will be selling into any upward head fake
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