Why are you converting to dollar amount at all? C's convert to 10,000 common shares regardless of the share price.
Incorrect. That is the Pref B which we are not talking about.
The Pref C’s have a value of $1000 per share. The converted common share equivalent is calculated by dividing that amount by the common share price at the time. At the moment this would be between 3.33 million and 5 million common shares for EACH Pref C share.
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