Macro20,I dont expect people not in the finance industry to...

Macro20,

I dont expect people not in the finance industry to understand the nuances of these structures.

You may not have realised due to specific words which have specific meanings but I suggest you re-read that release again because it says "....the company will have the right to elect to refuse to accept the proposed conversion IN EXCHANGE FOR REDEMPTION OF THE CONVERTIBLE NOTE".

The only way you can redeem the notes is to pay out the face value. Hence, why I say it is a moot clause for a company WITH NO MONEY. They will simply have to accept conversion. That is, unless they get a better funding alternative or they start making money in their business.