Guys,
This has to do with Seaway Valley Fund, Inc. and the debentures granted to Tom and Dede for their $500,000 contribution. It is merely saying that the owners of that fund have series B shares that if converted could raise the o/s by about 7% as of Sept 30.
If you think about it, we said it would take 20,000,000 to 40,000,000 shares or so if Tom and Dede were to exercise that debenture. Back on Sept 30, these numbers are close to 7% of the total o/s!
This has nothing to do with the "outside debentures"
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