Good Life China Corporation (GLCC)

[cameraturret]

Breez,

They just cut your equity possition more than in half.

A conv. debenture would be a loan than can convert to stock at usually a much higher price than market. So that means that you get the money now and turn that into shares later at far fewer than you would now. Thus diluting less.

The reason that investors would want the debenture is that it gives them a first in line holding should the company go belly up.