geo, if the folks doing the conversion think this stock will be worth a lot more $$ once the deals are closed, then they can convert each dollar of debt for more shares down here than they could at a higher price. that's pretty obvious, and it's the truth imo.
i'm not talking about someone who wants to just liquidate these shares immediately and move on. i'm talking about converting at a low price for more shares, holding them long, and then selling that higher number of shares at a higher price. this would yield them more money when the converted shares were sold. it's very, very basic.
if you still think i'm wrong, let's drop it. thanks.
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