InterCloud Systems Inc. (ICLD)

[shotsky]

ICLD's debt conversion is not dilution. ICLD borrowed real dollars, and has paid some of it back with stock shares. It is called 'convertible debentures', which simply means if the money plus interest is not paid as agreed, the debt can be converted to stock at an agreed stock price.
Dilution happens when the company 'offers' new shares to the market with the express purpose of raising cash for operating the company. Those shares are offered at a discount to the current stock price, which 'dilutes' the current stock price, because no one will pay higher than the diluted price.
Totally different issues, totally different reasons.