Agreed...and depending on the timing of PR's, our ability to hold onto shares (thus the "real" float) we could see slightly more or, yes, even higher numbers. That being said I think your estimate is all over it.
On a positive note...Petron let it run the last time back in the summer and diluted "gently" on the way down over the course of months. Unfortunately, there were alot more convertibles out there so they did what they do and drove it artificially if you will down to a point it would likely have never moved to on its own (i.e. overold). Let's hope it gets played in similar fashion. If so, everyone benefits...fippers, longs, and the company itself.
Fingers crossed...
Market Data 
Markets 
AI
