CSG Inc. (fka CYSG)

[Wardo]

The reason for the huge number of convertible shares was exactly that... the company 3-7 years ago was securing debt by exchanging convertible notes for a specific value of common stock. The last notes were for Midmark I and II... The most interesting part of the equation is that Midmark is owned (at least in part) by Cape Systems. I'd have to go back through the various filings to tally up the total debt they owed (to themselves, in a roundabout manner), but it's all there in the filings... the very fact that they are settling all of these is an excellent indication to me that they are cleaning up their books in anticipation of becoming a fully reporting company again.

To answer your question, yes they did pay their debts in shares (hence the dilution now, as they are settled). And the details for all of the convertibles are in CYSG's filings prior to 2007.