These convertable notes are like using your bankcard for carry on funds rather than a mortgage loan. Great IF (a BIG if) you repay in full before due date. Very expensive if you dont.
I have seem them work alyhough they are mainly used by companies left with little alternative.
If we get Hythane, optiblend and carbon fibres sales in the very near future and these notes are redeemed then that would be OK.
What the chances of this happening are speculative. However all is not lost. Just desperate.
Remember Solomon has a lot riding on this also. This should be working in our favour.
Ann: US $3 million Convertible Note Facility , page-15
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