Actually the discussion is about invoking a clause in the note...

Actually the discussion is about invoking a clause in the note holder document that works to the advantage of the shareholders. It is a clause that the note holders agreed to so why the squeeling now that the advantage is in favour of the shareholders. Makes me wonder what the note holders would have done if say the share price was $2 and someone made a compliant bid at that price? I doubt they would have forfeited their right to convert at 38 cents or so??!

Get off the self righteous horse, the note holders took a gamble and it hasn't worked out. If management were true to shareholders they would play the hand they have to the best interests of the shareholders not the note holders. Instead management are rimming the shareholders in order to deliver control to the note holders.