I agree that we are in fact seeing some debt being converted and then the stock being immediately sold. And while there is always the risk that all debt holders could demand conversion, I do not believe that is or will happen. Based on what we are seeing now and based on what we have seen over the last 6 months, I believe we are seeing only small debt holders retired while with large debt holders, Coroware has been working with them to create different arrangements. -- This assessment would also be in line with the most recent filings.
Regardless of any beliefs though, only a relatively small portion of Coroware debt has been retired and offered on the open market. My best guess is approx. 100 million shares in the last 6 - 7 months -- not something I would call mass conversion, particularly considering they had 100+ million shares available even before authorizing the additional 2.1 billion.