I concur. I dont understand how the t-trade price average of that transaction can be so low when 80% of the trades executed were over .0517.... doesn't make sense when we do the math. Unless somehow the note holder is getting a discounted price per share.
The equation used is spelled out by the company/debt holder. I used to track all of these t-trades every day. It uses the average price and average volume to determine amount of shares. It's all defined in company docs. It's actually a very smooth process and gives shareholders the benefit of making sure the buying/selling is orderly.