They can retire the loans if the debenture holder agrees to it. But when you have an endless supply of shares issued for a massive discount why stop? They are literally making millions of dollars of this company.
Another topic brought up here is a share buyback.
Why would the company pay .0013 for a share on the open market while they are issuing them for .00025 each?
It would be like burning cash, with only 20k of revenue... They would be bankrupt in days.