Mate you were the one who asked for a lower interest rate and...

Mate you were the one who asked for a lower interest rate and you are saying this. What is wrong with paying a lower interest for 12 months while growing the business at the same time?

If the CEO can't do two things at once (debt negotiation and growing the business) then you have got a really terrible ceo. Sent negotiation doesn't take up all of your time.

The CN provides flexibility to the management. Depending on the value of the conversion, it might be a cheap way to raise a LITTLE bit of equity. Imagine what it would cost to raise additional capital for only 1m dollars. You wouldn't do it. But now the management can easily. At what cost? That's hard to say, depending on the share price which is unknown yet.