Umm.. I don't think you understand how convertible bonds work.... if MT K coverts, they get % shares, and they will lose a portion of the bonds. LYC does not get a capital injection.
LYC only gets a capital injection, if they strike their warrants (which are like options).
I am pretty sure, Mt K will only exercise those warrant, if:
1- the share price was above 5c; and
2- to save LYC from immediate insolvency (and that is only so their bonds won't be entirely worthless).
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