Banyan Corporation (BNYN)

[lukec511]

Based on what I have read, I saw a key detail that I think could make a huge impact, correct me if I am wrong, but in the filing it says, "The 2006-2007 Convertible Notes are due in three years and bear interest at 8% annual interest payable quarterly. The Investors may convert the 2006-2007 Convertible Notes into shares at the lower of $.0057 per share or 50% of the three lowest intraday trading prices during the twenty trading days prior to conversion." Doe that mean BANY has three years to payoff this debt? And, throughout this time if BANY cannot payoff the interest, they convert the shares to payoff the interest? To me that wouldn't be bad if we become profitable and can payoff this amount and stop the dilution. I could be wrong though, the 8-k is pretty hard to comprehend the details of the deal.