That is not how I read it, as far as I can see the
Post# of 72446
(Total Views: 437)
Posted On: 10/09/2018 3:36:38 PM
That is not how I read it, as far as I can see they are issuing 2000 preferred stocks and 8000 warrants for preferred stocks,
That looks like it is locked in unless IPIX pays of the 8000 warrants within 30 days.
Each preferred stock is valued at $1080 per share and can be converted into common shares at $0.31625 or a value of 85% of the lowest volume weighted average price of the Company’s common stock on a trading day during the ten trading days prior to and ending on, and including, the conversion date. so we are looking at a min dilution of 10800000 / 0.31625 = 34 mil shares
depending on the average weighted share price 10 days before conversion, the dilution could get much bigger though
A bit of a concern for me that there is no lower limit conversion price.
That looks like it is locked in unless IPIX pays of the 8000 warrants within 30 days.
Each preferred stock is valued at $1080 per share and can be converted into common shares at $0.31625 or a value of 85% of the lowest volume weighted average price of the Company’s common stock on a trading day during the ten trading days prior to and ending on, and including, the conversion date. so we are looking at a min dilution of 10800000 / 0.31625 = 34 mil shares
depending on the average weighted share price 10 days before conversion, the dilution could get much bigger though
A bit of a concern for me that there is no lower limit conversion price.
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