Look at the total value of the convertibles, the discounts to the "LOW" price over a period and you'll see that massive dilution is coming, just from the EXISTING convertibles.
Now imagine what terms anyone will give the company for a lease or purchase.
They'll be taken care of by selling shares to retail as quickly as they can, but at less than a cent each, $750k is a lot of shares.
Competing is intense among humans, and within a group, selfish individuals always win. But in contests between groups, groups of altruists always beat groups of selfish individuals.
E. O. Wilson