Actually, that is not accurate. The debt IS $1.8 million. That is what NBRI actually owes in toxic death spiral convertibles. The $700K "discount" is simply an accounting rule under GAAP because NBRI can pay the debt before maturity and/or with shares and therefore is highly unlikely to incur the entire $1.8 million in cash, but they WILL pay the entire $1.8 million in the end regardless. The discount for the balance sheet doesn't change that at all.
It in no way reduces the actual amount owed - it is just for accounting purposes and how GAAP treats derivatives, which these are as they are convertible into common shares.
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