Twin Butte Energy Ltd TBTEF

murrams I will put my 16 years here against your 2 months

[HCI_STEEL]

anytime.

The holder (ME) of the 1000.00 deb has the option to convert it into shares at the rate of ~328 per 1000.00 deb. WIth shares trading at ~.05 cents each there is NO WAY a holder would do so.

The company, within a certain window of time closer to maturity, has the option of paying the 1000.00 deb in shares, instead of cash. BUT would have to do so at the 20 day average prior to such an announcement to do so...which lets say is now hypothetically , so 0.05 cents. Which means they would have to issue 20,000 shares PER 1000.00 deb, NOT the 328 shares.

The company has NO OPTION to convert the shares at 3.05.

Were you trying to say, the company could just do a say, 100:1 reverse split to change the 5cent shares, to $5.00 and then try to pay off the debs with say $1000.00/$5.00, issuing 200 shares?

I've owned debs in many companies, sometimes having them paid off in shares in the past. 

Just trying to understand what the heck you are saying,  regarding doing a reverse split to get the shares above the 3.05 price so the company can pay the debs off (theoreticallY)