MXCOD???, page-31

When you say a bad loss, I assume you bought at the high, so sitting at around 25% loss?

It would not be worth converting them at this stage, if you did you would be paying what the shares are worth anyway.

Personally I think the options are a good investment. You have years before you need to convert them, In that time shares could be 10 times what they are now, and paying 6 cents a share will be negligible.

Your options are to sell now and take the loss, or hold on til they recover. I wouldwait it out if it was me, but everyones circumstances are different.