another year of growth, page-4

I can't fault your reasoning behemoth.

What needs to be added to the consideration of the convertable notes is that upon their conversion the interest expense essentially adds to the profit of the combined equity issue so it's not a linear dilution of shareholder return.

Double digit revenue and profit growth should relieve any dilution concern.

Since the convertable notes went to insiders the most likely scenario in my opinion is that any conversion of the notes will trigger a mop-up takeover of the rest of the shares.