Part of the March 31 credit extension agreement that NEVER went into effect was reducing the conversion price of series H convertibles from $1.09 to .19 and limiting the amount of principle that could be converted to $7m. Those series H shares represent secured debt, so they can't convert the shares if the principle is repaid. It's either/ or, not both. It was part of the PP sceme to control 30% of Zapata, and the conversion price is too far under water now to worry about anyway.
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