RE:RE:Stronger HandsThe debenture holders had to choose to recieve all shares, although I'm not sure they had much of a choice. The minimum share price was set at $0.42 ($0.06 pre consolidation). Does this show that the debenture holders have some faith in Erin, as they elected shares over cash? If not, I would think they would have taken the cash rather than leaving it with Erin.
"The Interest Payments will be comprised of 50% cash and 50% common shares of Erin, subject to the right of each debenture holder to elect to have an Interest Payment satisfied entirely in common shares. The price of the common shares to be issued to satisfy each Interest Payment will be subject to a minimum price of $0.06"