good afternoon your honors and may please the court i will just note that there was an empty chair to your right so you don't have to take up your full eight minutes understood your honor this is an appeal from a fundamental misunderstanding of the transaction upon which the lower action was based which resulted in the district court almost having the appellant's damages appellant purchased a convertible note from defendant which provided appellant with the right to convert portions of the principal and interest in the note into shares of to defendant corporations common stock at a discount to the market price upon conversion those portions of principal and interests are deemed paid and appellant plaintiff is entitled to do whatever it wants with the stock whether that's keep the stock or sell the stock on the open market without any further obligations to the defendant corporation on two prior occasions appellant submitted these notices of conversion admittedly with little bit of were complied with plaintiff received the stock sold stock on the open market made money on the rd occasion defendant refused to deliver the stock the district court found that the defendant was for a lot or was liable for breach of contract as a result of this failure to deliver the shares the full payment principle the principle of the note was fifty two thousand dollars at the time of the conversion it issued the balance was down to sixteen thousand dollars and the interest on that was about seven hundred dollars and some dollars the district court calculated the damages by subtracting the contract price or the conversion price in this case from the market price of the stock so the contract price in this case was point seven to five dollars  less just less than a penny and the market price was one dollar seven cents after finding the difference in that the court multiplied by the amount of shares to which plaintiff wasn't titled and found that figure to be approximately twenty that that sixteen thousand dollars be repaid as compensatory damages and the twenty three thousand dollars that the district court ultimately awarded as all of its damages that that figure be it expectation to images i would just like to present one hypothetical what would the total damages the total damages would have been the sixteen thousand dollars question actually about the day of the breach ok the the notice of conversion was dated july one i think but i didn't see evidence that it was actually received on that day and since we are counting in days and looking at prices on particular days can you help me with that they are generally submitted via email i do believe that at least the letters on the record would indicate that it was received on that day so you count from three days after that so that was in contests in any event no data calculate what you would have been entitled to your clients would have been titled to the district court use the opening bid price that day you said that the closing bid was the proper value but we why we've been using it at the one example i will give which i think accurately shows the damages to which the plaintiff is entitled today it was from judge carter in the matter of at our babies against gene and in that case judge carter did take the closing bid price which if we if we're sort of splitting hairs by the end of the day is when the defendant these are these are minor differences but still i was perplexed on that note is there the further if if i could just apply one hypothetical to sort of demonstrate that there could be some pretty perverse results from applying this form of damages regardless of which we appear to misunderstand what you say no your honor i'm happy to close it out there thank you very much who reserved cision thank you