RE: Financial Statements Question.. "It almost seems like conversion is imminent."
No it is just a statement of the ramifications of a conversion. In the case of the convertible debentures, management has no say in it. Conversion is an option that the holder can exercise if they choose to do so. Do you want me to tell you the odds are of me giving up a 50% annual ROI and legally binding (short of CCAA) 7 bagger face for common shares? (I assume you realize that was a rhetorical question)
Do not confuse debt and equity. They are diametrically opposed worlds. You are the guys that owe and I am the guy you owe it to.