If what you're saying is true...then I'm buying-more! MMEG doesn't dilute just to sell shares. If they're doing that they're paying for a revenue producing acquisition. $MMEG!
No that's illegal. Convertible notes must be disclosed in the financials and notes can't convert before a minimum of 6 months for maturity. This prevents scams from doing stuff like that.
That's why you always see 6 months from date of issue to 1 year.