Partially Correct. After Feb 5, they could sell
Post# of 30070

After Feb 5, they could sell up to 500k shares at or above .16 price and another 500k at or above .45 price.
After Feb 22, any of remaining converted shares can be sold at or above .16 price.
If trading below .09 or above 1.25, "all bets are off".

