Good catch Daubers! Glad Leo has more money ($2.2M) to work with. For the sake of simplicity, let’s say the MFO decides to convert at an average price of 22 cents. That’s 10M shares, which is more than 5% of the OS (173M OS * 5% = 8.65M). We know the convert price will be lower than 22 cents so they’ll be able to convert more than 10M shares. To those who believes the MFO is/will hold, they must file Schedule 13G if and when they have more than 8.65M shares. So far we know that’s not the case.