Why would DD invest in these notes?Can somebody please explain to me why they think DD would invest in these notes? That makes no sense to me. Why would he want to buy a fixed income security that gives the benefit of leverage to ALL shareholders? DD doesn't share. He's not going to give the benefit of leverage to you and me. And, I can't imagine that the note should will be convertible. DD doesn't like dilution. How many of MPVD's share issues had warrants attached? None. Also, the convertible feature would make the debt ineligible for the non-resident tax exemption (I think). In short, I think the notes are aimed at institutional buyers, particularly offshore institutions. And, that should be fine.