Actually this isn't entirely correct. Its just an

Actually this isn't entirely correct. Its just an estimate based on the price at that time and the conversion rules. Originally its was conversion at 95% (of 5 lowest trading days beginning on issuance and ending on maturity/conversion) minus $.05.

They were supposed to issue the s1 for those convertible shares w/in 30 days of Dec 9th but they didn't so the penalties kicked in increasing interest to 22% and reducing conversion from 95% of lowest to 80% of lowest.

In any case if im reading this right those shares should now be convertible as it states:

The Discover Note is convertible into common stock at the option of the holder commencing on the earlier of six months after the issuance date or the effective date of the registration statement which register the resale of the shares issuable upon conversion of the Discover Note.

and 6 months have passed since issuance of the note (Dec 9).

So if they converted today 5 lowest days avg is about ($.45*.-.05 =.$31

$2.2m/.31= 7.1m shares.

Did i do that right? Why is the new estimate (15m) more than double my estimate?