Because it's not real. They have been running this scam on the gullible for years. The simplest explanation is the correct one. Oh, and I'll save everyone the suspense. There will be no PPS jump for quarterly financials. On the contrary, the PPS always drops upon financials release. GLTA
1. Very little free cash being thrown from profit (statement of cash flows)
2. They are obligated to sign off on these conversions which, although some have been kicked down the road, are going to dilute more than another 1 billion plus shares.