Pop- here is how I get 4.5 billion shares that YA has yet to convert but in doing the calculation I made a mistake- the correct number is more like 5.1 billion. On page 47 of 10-K, it says the current balance of debentures plus accrued interest is $39,458,000. The anti-dilution adjusted prices are on page 46 and they range from $.0084 to $.0099 so I used $.009 which converts the $39.5 million of debt to 4.38 billion shares.
Next I took a look at the C and D preferred stock which totals $6.5 million on the balance sheet and used the same average conversion price of $.009 which indicates that all of the preferred stock would convert to 0.72 billion shares.
The total conversions from debt and preferred add up to 5.1 billion. I hope that helps- let me know if it makes sense to you. Not sure about the implications if they don't have enough authorized shares to cover the conversions.
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