One must read the notes of the financial statements to get a full understanding on the numbers contained.
You'll notice this disclaimer at the bottom of the balance sheet
The accompanying notes are an integral part of these statements.
The notes to the financials clearly spell out that the debt is convertible, while it might not be a lot it can convert to a few hundred million shares. Which is not horrible, but also cannot be stated that there is no convertivle debt.
I mean 200M or so shares were just added to the O/S, had to come from somewhere
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