To all you efforts to disparage this, 2 things could happen

1- All debts will be converted or paid back and the company will grow with time and become more and more successful

or

2- All debts will be converted or the company will go bancropt and paid back wityh shares creditors will lose it all with us.

Unless creditors are crazy, why convert their loans if they perceive the company to be a bancruptcy in the making?

If they effectively convert does it not mean that they are confident that their shares will one day be profitable.

Bottom line, what is your point with you continuous analysis of historic data nowadays irrelevant?