"because convertible notes just sell shares" What do you think...

"because convertible notes just sell shares"

What do you think the Soph investors have been doing, when the company has raised shares via that method? Selling shares funnily enough.

As for your statement "convertible notes have been coming thick and fast"

The following demonstrates they have hardly been coming thick and fast when compared with ERJ raising capital from the market as you suggest. Which have been coming thick and fast.
-----------------------------------
22 Appendix 3B's have been issued in the last 6 months.

11 have been where the company has gone to sophisticated investors to raise funds.

5 have been for the issue of shares for corporate services for the above soph investors.

5 have been from con note drawdowns.

1 for the release of shares from escrow.
---------------------------------------------------
The convertible note in this instance has been used sparingly by the company and provides some assurance that financially this company will not fold tomorrow.