Yes, but what you don´t understand that it´s not different with other companies.
These companies traded at the same level with more outstanding shares and found a way to convert higher.
The stocks with a lot convertible debt need to find a solution to convert higher. Happened with OXIS, happened with PPCB and others. But you need a debt holder who helps and does the right steps and this we don´t know.
Fact is, name and symbol change, a 1 for 100 reverse split with only 200m o/s and with result of 5m o/s is under normal circumstances a sign there is a plan to convert higher.