The conversions avoided instant BK
to kick start the US company Peter Hoffman borrowed massively with convertibles when the shares were riding high on the hog
all of that converted automatically, some still to come
he they used media4equity dilutive shonkey deals to pump the stock up for a while
but it had to crash on the fundamentals
and it did
there were also "hang over" deals from lenders to the UK company, they all converted as well
there was no "paying off debt", none was, in fact "paid" except through dilution
and there is another 10M or more shares still to come on those deals, let alone the total of 250M already authorised
you were played, by experts
check out the history of Michery, John Bryan Jr, Peter Hoffman, other non-execs and directors of SAPX. The badges and flags were always there
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