If you buy at 5.5c and have to convert at 17.8c, and the price is 25c that puts it 1.7c in the money not 7.2c like previous poster wrote. 7.2c in the money means the current price would have to be 30.5c. Maybe he got them for free then he would be 7.2c in the money if converted.
If you buy at 5.5c and have to convert at 17.8c, and the price...
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