Understood, however I believe people should be careful when...

Understood, however I believe people should be careful when focusing too hard on any convertible notes when valuing entry points in shares. There will be a dilution when any debts are converted to shares, however somehow believing that the price of a company share should be as close to the CN value as possible indicates a flawed understanding of share pricing and how convertible notes are issued and executed.

Any investors putting in $ into a business in exchange for convertible notes, have a right to obtain shares at a discount down the track, however the rest of the investors (us) have no right to expect the share price to hover around the convertible note share price mark, as it is completely independent of that mark.