When the AS was maxed, 1/3 of the CD was converted at a conversion price of 011. If the conversion rate is closer to 003 or so now, I would estimate it would take another 600 - 800 million to be done, from the 250MM AS point.
Depends on the formula being used and share price being used. The company has cash now, so they can limit the conversion as much as possible. As long as they keep holding the share price low through NSS, then the more shares need to be issued. But the cd holders cannot convert more than 4.99%, anti-dilution clause in the contract, of the O/S at any time, and payments I believe are due once a month. So we'll see in about 14 weeks.
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