I tend to agree with Trader on PINK Sheets OS info not likely to help the PPS. Their data especially OS info is notoriously inaccurate. So I don't usually trust it. Market cap and AS for ONCP for instance.
Now, take 1,635,091,425 divided by 1000 = 1,635,091. Assuming that all shares are converted at an average pps of .23, with 20% discount, we find the new number of shares issued will be 8,886,366. Add existing number of shares of 19,228,049 + 8,886,366 = 28,114,415.
The following shows the result of pps and outcome of total number of shares, if all are converted back at the same time: