I thought the monthly payments were at end of month.
I'll read that 8-K again.
The CD holder can convert all he can, and pass shares to a 3rd party. If over 5%, then they'll have to file with SEC and we would know. If not above 5%, we won't know.
CD holder has been converting and selling, or either shorting to convert later.
I think they sell these next few days and make it drop, just like they did a month ago when it seemed to go up.