I'll preface what I say with "this is just conject

I'll preface what I say with "this is just conjecture on my part, as the company hasn't officially provided us with the two redemption options yet".

Having said that...

Let's assume that the "C share for common share" redemption amounted to 20 cents' worth of common stock for each C share redeemed. If this redemption option were to pass by a majority vote, all C shares would be affected. If that were the case, let's also assume that the PPS is at 4 cents when the redemption takes place (just to make the math easy).

Given these assumptions, each C share holder would get 5 shares of common stock. Based on the current outstanding count of C shares, that would amount to 93,138,995 shares of common stock being awarded. This would put our common share outstanding count at just over 143 million shares. Selling those shares back into the market (and thereby impacting the PPS in either a positive or negative fashion) would be based on whether or not they are issued as free-trading or with a restrictive legend.