Puget Technologies Inc (PUGE)

[Basshead]

New to trading but not PUGE. It would appear that PUGE is well on their way
to settling their curious legal strategy regarding lenders. Wouldn't that suggest that an attempted "comeback" is eminent? And if so, according to the 8K filing on 10/20/15, the holder of the Shield note agreeing to convert to preferred shares, is a Bold statement. No? Based on the outcome of the litigation the Shield note holder has agreed to convert their outstanding debt to preferred shares (according to the 8K). What happens if the Shield note holder, based on the ever evolving settlement agreements with the other lenders, decides to convert to Common shares? Just trying to learn. Appreciate any feedback regarding such a scenario.
Thanks!