They don't have any shares to sell. This has been explained numerous times. A conversion of a matured debt note is done without the company's say so, this has also been explained before.
In order to sell or assign to a 3rd party, the Company has to agree and that party has to wait the regulation period, 6 Months to a Year before they can sell. The Company does not benefit in any way.
The lender is converting and selling because the debentures have matured. The Company has nothing to do with it.
If Company benefited, the derivative liability would not decrease. Full stop