crassus: Of course, YA is converting. My point is all the apocalypse discussion of billions of shares converting is limited by two factors: average volume and beneficial ownership limits.
Right now YA can convert and hold around 150 million shares at any particular moment. At the current average volume and assuming 30% of volume is YA, it would take a month and half just to sell what they can hold in a day.
We have already had the equivalents of Apple, Amazon and Facebook license and we still have an average volume of 15M shares a day.