Convertible debt always sinks the share price. Shareholders are waiting for the occasional promotions where everybody suspends disbelief about the company and actually believes what they are being told only for said company to dump more shares to it's noteholders to pay off debt and then reality hits again.

Rinse, repeat.

The news it not the business itself but rather how Leon pays off the debt in shares without having to come up with actually cash. It's not working to well right now imo.