The numbers work for the 19.9 % using the 70 million added to our existing float. The problem I have with it is that they are allowed only 19.9 % so why would they be buying the PP when they can buy at the agreed upon price.

CRRC shall have the option at any time to convert all or any portion of the Note Facility into common shares of Crystallex at a price of Cdn$0.40 per common share on or before the date which is 5 years following the date of the Note Facility. The conversion option shall be exercisable once, following which the unconverted balance of the Note Facility shall no longer be convertible. Notwithstanding the foregoing, CRRC shall only be permitted to convert such amount of the Note Facility such that the number of common shares of Crystallex beneficially owned in the aggregate by CRRC and any of its affiliates shall not exceed 19.9% of the outstanding common shares of Crystallex calculated on the date of conversion.

This also shoots down my theory about buying out the note holders since CRRC is taking care of the problem.