I think if I was Sud, I would leave it till the last minute if I was buying them. If the money was borrowed, everyday would be one less day you would pay interest. If he doesn't convert them, it's not a bad thing for shareholders as the shares would not be diluted. Unfortunately though, the company doesn't get more capital. I wish he would offer some to me so I could buy them at 20 cents, I wouldn't even mind keeping them for 180 days.
IHL Price at posting:
36.0¢ Sentiment: Buy Disclosure: Held