For pete's sake, the lenders don't 'agree' to convert. They tell BVTK WHEN they are going to convert, and BVTK has nothing to do with it. It is written into the loan agreements. Read the 8K's and financial reports to see the notes. Prepare for a LOT of reading.
Toxic funders get huge discounts & dump quickly for profit. They don't care about long term, or "value".
"...debt holders wouldn’t agree to convert their debt in exchange for common shares if they didn’t see any value in the company or if they couldn’t potentially make a substantial amount of money in the long run. ..."