Hi rastes. They have not calculated the max. shares that could...

Hi rastes.

They have not calculated the max. shares that could be available if Magna convert all the notes! Roughly speaking max. could be $4.75m divided by a vwap less discount)

How many shares they could end up with? Way too many hypotheticals in that one!

My opinion....They might not convert any notes to shares or they might convert all. It is my thought that they will not ever get to a 5% holding, why would they? They, in my opinion are after huge short term gains, not long term investing.

Again, in my opinion, if Magna do convert any notes it will be in smallish quantities (based on the way another company has been handing out shares to Magna (MEF I LP) for partial conversion of notes. Much less than 5% at a time will keep them under the radar, so to speak. The Commitment shares are well short 5%

Also VEC might repay the notes and %ages and the above would be irrelevant.