First, the note holders decide when and how much to convert and they are going to act in their interest. At the current buying volume, which has been steadily decreasing over the last few months, the market could not absorb all the conversions in side of a month or even two without collapsing the pps. Even note holders are at risk once they convert as it may take more than a day to unload a given conversion and if the pps drops more than 50% in that time they risk loosing money. So they are converting and selling at a slow and steady pace. The can handle a slow fall of the pps...but not a quick one...hence their approach.
As for a buyback...it is a fantasy. Sure they could “announce” one...but they would be lying. If they don’t have the money to pay off the notes...then they sure as heck don’t have the money for a buyback....and the numbers that are going to show up on Feb 14 are locked in...good, bad or indifferent.
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