RE: debentures The debenture holders in Ortsbo were not invested in the debenture for the interest coupon. Easier ways to make 10 - 12% , with Ortsbo spin out imminent an extension was in order to keep everyone on the rails. We know the first Ortsbo spin out was a non starter and in hindsight would have been a disaster on the Cdn markets.
With a more mature company dialed in on revenue, a US spin out is a no brainer IMO. I am sure the deb holders want to be part of that. At the same time INT needs the cash to keep the everything firing on all cylinders, this is a win win!