The note holders are converting, but the SEC makes you clarify in your financials the "WORSE CASE" if everything had to be converted statement. Regardless, it does give you an idea of how bad things "COULD" get if they start getting massive conversion notices.
Never buy or sell based on anything I post - MY POSTS ARE ALWAYS JUST MY OPINION, regardless whether I include that in my post or not. I am not a financial advisor and anything I post should be considered only my opinion at that time.