Legal Strategies ... Well I doubt there are any. The company needs money, the company does not have solid assets to use as collateral and refuses to do a personal signature so they do what they have to do to get operating capital.
Companies that do Convertible Debentures and do not have safe limits to protect shareholder interests such as anti-dilution clauses and so forth are only interested in the money and not looking out for the best interest of the corporation overall.
Now each debenture has its own terms and those terms are the real read of the impact on shareholders. The dilution factor also.
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