This shows incredible confidence (in MYEC) on the part of the lender. They prefer to own 18.8m shares of MYEC stock instead of eventual repayment of principle and interest on original loan amount. Perhaps their investment has entitled them to information about MYEC that the rest of us are not privy to. Good luck to them and the entire population of MYEC investors.
“We were required to comply with the terms of a Convertible Note and converted the loan into stock (approx. 18,800,000 shares) at the demand of the note-holder. This eliminates a variable derivative liability (reduces our debt).”
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