Don't know if that's correct...
here is how i read Section 5. (original text)
Conversion. At any time or from time to time, in whole or in part, each one Share of the Series may be converted by the holder into a number of shares of the Company's common stock equal to 1/288,670 of 1.009% of the Company's outstanding common stock on the date of conversion, calculated on a fully diluted basis, as though all warrants, 0ptions. convertible debt, and any other class of convertible preferred stock, and any and all other Stock rights, had been fully exercised or converted but excluding all outstanding Series A Convertible Preferred, including the Series shares to be converted.
Per the last Report OS is ~20M*1009% divided by 288,670 = ~70k shares per converted Series A share.
Of course the amount will go up with a growing O/S.
I'm not an Expert for this, the above is just my understanding of the Conversion and how i interpret it.
But even with that, converting 1000 shares of Preferred would add 70M shares... something doesn't add up since a conversion of all Preferred shares would exceed to A/S by far... BUT raising the A/S is a pretty common thing, no?
No Position, just my understanding... feel free to correct it
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