One should never under estimate the will and passion of Cdex's largest investor on record, imo. Maybe so. Maybe no. But I give him the benefit of the doubt on the question of stupidity. He is not so stupid as to convert worthless shares. Find a way to make the shares worth something. Then maybe he will convert. Until then, he will be content to claim "BENEFICIAL" ownership of them 8 million shares based on the warrents. Another example of MALC speak learnt from his beloved BOSS.