That's about what they paid for them. Actually less than that. Since there are now 100M shares outstanding and the note holders got 92M of them but were only able to sell the 8M that were registered (who knows when they sold them or what they got for them of if they sold them). That means that the $5.8M notes debt divided by 92M shares comes to about .06. If they sold the 8M registered shares it would be less than that, maybe even zero.
In light of that fact, they can take them private, avoid all the BS that comes with staying public, grow the business, reap the profits, and maybe someday down the road sell it or R/M and go public again so they can sell all the shares they got for nothing or almost nothing. In the mean time the stock stops trading and becomes illiquid and anyone holding shares is stuck with waiting to see if they ever go public again or try to sell to someone else for a privately negotiated price.
That's my take.