NOTHING in that filing says ANYTHING about these being conversions.
If you feel differently, just post the exact text that you think says otherwise.
THE COMMON SHARES AND THE SERIES J SHARES WERE PURCHASED IN CASH
ANYONE THAT UNDERSTANDS THE SERIES J SHARES KNOWS THAT THEY COME WITH WARRANTS. WHEN HE BOUGHT THE SERIES J, HE GOT THE WARRANTS WITH IT. THE WARRANTS WEREN'T CONVERTED! NO IDIOT IS GOING TO EXERCISE THE WARRANTS TO BUY FREAKING SHARES AT $1.20 and $2.20/SHARE, WHEN THIS PATHETIC STOCK IS NEAR A PENNY!!!
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