You may want to double check, but the convertible notes are...

You may want to double check, but the convertible notes are issued at an 8% premium to the amount of cash that MGT get, so selling at 8 cents still C/M Capital an 8% profit.

For example: "C/M Capital will provide $1.2 million of funding to the Company by way of Convertible Notes with a face value of $1.296 million".
Therefore, if C/M Capital convert that $1.296 million into shares at 8 cents and sell them on market, they have have made a $96,000.

Plus, "C/M Capital will receive options equivalent to 50% of the funded amount with an exercise price of 120% of the 15 day VWAP immediately
prior to ....the execution date of the facility, and in the case of any subsequent funding, the date of the issue of the options"

Therefore, on top of their profit on the conversion of the notes and sale of shares, C/M Capital also have some upside with the options if the price goes up over the next three years.

Great summary @LaraCroftFan