I do not have all the details on that stuff but I can mention what I think I know..
1- FIFE note was settled out when he issued those shares as I asked him
2- There are other notes, one of which is in court
3- Dan has expressed intention to squash conversion requests at these levels of stock price but would settle these out once a chunk of money comes in.
As for my analysis, if news comes on money a few things happen. First if WSTI stock price goes to penny land as it should the notes become less of a problem. But getting money and settling out a chunk of them would be best or some combo of both.
Everything I post is my own opinion and people should always do their own research and due diligence on any company they are looking at