Both you and venomen2002 are incorrect and that is well known. How could you state "the note can be used as collateral for a short position" and then say "It does not say you can sell the shares without converting"? LOL! You just made my point. How could you sell the shares short using the unconverted note as collateral if both your points of view made sense?
The facts here are simple. Naked shorting is being used as an excuse to explain the failure of One Voice Technologies, i.e. the decline of it's stock from $27.75 to .004. That failure was NOT a result of "naked shorting". Not past the extent it was used by the supposed "investors" in the company as part of the massive dilution that WAS the reason the company and it's PPS has failed. PERIOD.
One Voice is a failure. The market has acknowledged that and it is clearly reflected in the PPS. There is no need for further discussion on this to the extent "naked shorting" had much to do with it. ONEV's failure is a fact that is irrefutable. Argue the fine points. Use deflection of the facts. Twist reality to suit an improbable and impossible to prove theory stated as fact. Call on what is to come to wipe out all the wrongs of the past. A company suffering a PPS decline from $27.75 to less than a half penny has sustained a massive failure. END STATEMENT.
The "new investors" in this company will come in and perform the equivalent of a reverse merger IMO. It will be the start of a massive second wave of dilution that will have the opposite effect of what is being described and the "new ONEV" will be selling more convertible debentures and paying off bills with stock within 12-18 months. And that time frame might be conservative if history is any guide. In the meantime, LOIs, MOUs, free trials, promises and ongoing negotiations may produce some fleeting elation for some, but they produce ZERO revenue. And regardless of what white noise and pointless deflection is utilized to keep attention off that factor, revenue is the ONLY thing that is important. All in my opinion.