Yes, the debentures have been converted into 1,046 shares of common stock. Again, 1,046 Common Shares.
If you review the S-1 it states that Jonathan Cummings is the Beneficial Owner of 90.07% of the common stock in the compony, which he issued to himself on October 1, 2014 after the reverse split.
He holds those shares at a ZERO cost basis; he awarded them to himself.
Who do you think is selling?