12:52 (1.5X)
optimal conversion point = total liquidation preference value /(conversion ratio x number of preferred shares)
liquidation preference value = current CPS price x number of CPS x preferred multiple
那不就相当于 optimal conversion point 永远 = current CPS price x preferred multiple / (conversion ratio) ? 跟number of preferred shares 其实没关系因为永远都消掉？