The 8-K on that transaction was deceptive and I believe it was intentional. As I divided the debt amount into the number of shares converted I computed about $.01 per share which far exceeded the then stock price at the time. So, I said to myself that this makes no sense. I went back and re-read the 8-K more clearly and saw that they buried a short sentence at the end that implied that not all of the debt was converted. For that amount, one would believe that the entire amount was converted. But, that wasn't the case. To me, that was done with trickery.
I also reviewed the financials and noted little cash, tiny assets, large liabilities, some toxic derivatives, and no sales. There should be rules in place for companies like this where they are precluded from trading, especially with this many shares to help investors from buying crap without researching the actual facts and evidence.