Based on the stock price history, I cannot see how they would not take a loss to sell at a dime - converts usually get a nice discount for shares based on a price range over a time period, and this stock simply hasnt spent any time down near these prices. So, maybe maybe they break even at a dime, but I cannot imagine much lower. I dont think anyone predicted the price could get so low. But if we refuse to pay the ask, we force them to come down to us to sell if they want to, or they wait it out. At one point, positive news simply must drive the price up. Of course we are at risk of missing out by bid-sitting.
Then again, without our doing some due diligence in the filings, we don't have those details.