It is in default. You would need to check original note but it most likely hits at a severe discount to trading price, maybe 25% or so. They tacked on so much interest and fees , they're trying to break this stock.
Thought the shares were suppose to be at .0005 if they convert all the $$$$ they are owned .00000000000000000000001 it says that ILST owes them like 2.5 million and the most shares that are suppose to be able to convert is around lil over 500 million but converting at .00036 is 6,944,444,444 shares approx