They were overdue loans (debt notes) that were changed into 0.0001 per share convertible debt and floorless convertible debt.
The convertible noteholders can convert whenever they want and in whatever increments they want. For the $50,000 (plus accrued and accruing 12 percent interest) that converts at 0.0001 per share, the holder has already converted $8,900 of that one note for 89,000,000 shares which automatically are in the float and delegended because the debt is over a year old (aged debt). So these conversions are typically done in small increments and dumped immediately into the market to insulate against market risk.
Then there is also the separate floorless convertible debt note that is overdue and also accrues interest;
and Series A preferred stock that is floorless convertible and the principal plus accrued interest (12 percent also).
They can all convert anytime and in any amount(s) they wish to - and in each case, the issued shares are free-trading upon issuance because they arise from debt or preferred that are all over 12 months old. The shareholders have total discretion.
HTH.
