Magic, you are absolutely correct that if #5 is approved YA will be able to continue to convert its debt into below market shares. YA will still be able to select the lowest price over the last 4 to 6 months and then YA is entitled to a further discount up to 20% off that low price.
You are low on the amount of convertible debt and preferred stock outstanding- as of June 30, 2013, the total reported in the 10-Q was $47,763,000.
My opinion is that if shareholders stand firm and defeat #5 that YA will come back to the table with a better offer before the end of October; that offer will be far less dilutive to retail investors. If I am wrong on that assumption, then YA will force NEOM to declare bankruptcy. However, my opinion is that YA knows it is far better off avoiding NEOM's bankruptcy so it can keep diluting retail investors (even if YA has to improve the terms for retail investors after #5 fails to pass).
News 
Market Data 
Discover 
AI
