You got it right ! These debt conversions are the toxic poision that all the pinkies use, to finance their lifestyles
And the discount i can tell from other pinkies filings is greater than 50% ! You can be sure that CTYX are doing deals at 0.0005 and lower.
The reason is obvious. The so called " debt purchaser" gets large volumes of shares at a massive discount. Then if he is smart, drips feed them in to the market, and feeds back via another corp a percentage of the proceeds back into the company. which pays for the officers lifestyle and " supposed business"
Win Win : Except for the shareholders !