There is an agreement for the note holders to not convert until market cap of KEGS reaches $100 million.... its just "paper debt" right now until KEGS price per share reaches about .009. If you, or I, see the $13.7 million in note holders starting to convert before that we will surely let everyone on this board know!
PR about those note holders:
Therefore, I have had subsequent discussions with each of the debt holders, and they have tentatively agreed to continue to waive any accruing interest as well as to abstain from any conversions until the market value of the Company exceeds $100 million. It should be noted that neither debt holder has converted into common stock in over ten years, nor have they indicated an immediate desire to do so regardless of price