Reposting my answer because the mods didn't like how I said rokkett was wrong.
If you do decide to convert them, do you pay the difference at the time you bought them or the current difference.
Neither. You pay the 'unpaid' amount. The unpaid amount on LITCF is currently 4.99cps. And this is exactly why they're an utter bargain.
You could, if you wanted to, buy LITCF on market, convert them to LIT immediately, then sell them. As I type, you can buy LITCF for 1c. This strategy would thus cost you 5.99c, vs 6.3c last trade of LIT. Of course, LIT may go up or down between the time you buy LITCF and the time at which you could sell the LIT. Buying LITCF, settling the trade, and converting to LIT would I think take a week at an absolute minimum.
Buying to convert however is in my view foolish. If you like LIT long term, the smart thing to do is buy LITCF and hold. If you are instead attracted to the massive option value of LITCF, again, buy LITCF and hold.
If LIT makes a call and you decide not to pay - do you still retain the partly paid shares.
No. Any LITCF on which a call was made, and you didn't pay it, would be forfeited.
LIT Price at posting:
6.7¢ Sentiment: Buy Disclosure: Held
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