If i understand correctly, following the vote this upcoming...

If i understand correctly, following the vote this upcoming meeting that means that the CN immediately cashes $1.77Mill at 4.8c conversion price. Not happy with the dilution of this one. :/
But good thing that the Tranche A options are locked in at 6.1c strike.
Looking at their cash-flow i feel it is going to be tight reaching Octobers auction without drawing down on the 3rd CN. But Auction results would be a good counteracting trade off in the end.