Unfortunately what you say is true for every stock. It's not something unique to the situation here. Common holders never know what the dilution numbers will be until they see it in the filings. The actual numbers are dependent on the day of conversion. Obviously any conversions done now will result in a higher amount of shares, however, should the share price improve, a lesser amount of shares will be necessary to satisfy the note.
I called Nevada a few days back and the share count was about 650k short of 750mill, which put the total converted shares for the entire year thus far at about 22mill. Not bad at all.
This is a share selling scam used to pay bonuses to the BOD. Great big scam, one that looks good on the outside but o ce you're in it you realize the price only goes down. Then one day bam, split...