Conversion rights under the Series C convertible preferred. Conversion is based on a formula. The lower the lowest market closing bid in the trailing 30 days, the more shares they get on conversion.
They have various warrants with fixed exercise prices, but those are not the source of the current dilution.
how much has YA lent to NEOM? how much have they made on sales of shares? and on interest? and still hundreds of millions of shares. Former management and Copus and Rickliss should be sued for breach of trust. Dr. Mike