Yes, BJones, the recommended practice for accounting Convertibles, by both the SEC and the GAAP, is to immediately increase the OS so to be able to cover all possible conversions, all the time, from already-issued treasury shares.
PVSP chose to do otherwise. The convertibles are all put in a "derivative". When it receives a fax from a CD older, PVSP increase its O/S and issues the required shares. This happens several times a week.
That approach makes it impossible to compute the float. Right now, the conversion of all outstanding CDs would far exceed PVSP's A/S.
That's probably why PVSP was kicked out of the DTCC.
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