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The existing convertible debentures held in Fuel-x would also convert into common shares of Source at a predetermined conversion ratio while the term loan would be eliminated through a combination of cash and common shares. A boe conversion ratio of 6 mcf to 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. 8691 shares of Common Stock for each Depositary Share, compared to the conversion ratio of 1. |
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