New conversion priceLooks like someone is supporting the stock at $1.10.
If this holds then the conversion price, to be determined May 19 or May 20, should be something like $1.10 or $1.11.
If all the debentures were subsequently converted that would lead to the creation of a little less than 16 million new shares.
Likely not all of the debentures will be converted and so it will be in proportion.
---------------
The company will really want to get them all converted, if possible. It would be nice to get rid of the entire issue. With that in mind, I wouldn't be surprised if they have some good news in their back pockets that comes out over the next month.
What they certainly do not want is to have the stock tank in May and then nobody converts, with the possible exception of Jeffrey Royer.