no "ifs" about it. stock has been converted, but the volume is low. for a debt holder, this is the same thing as going long.
i think a lot of people sense WGAS has huge news on the way.
if debt holders thought otherwise, there would be a cascade of selling right now. instead we only traded 2.15M shares on friday, with a BS 400 share print at .0004 (below the .0005 bid) as a t-trade.
i've seen this movie before, back in early february. this time the story gets a lot more exciting.