One more time. "Toxic convertible" has a specific meaning. That is what NBRI is issuing, not what other juniors are doing. None of them have ever used toxic convertibles where the lender has significant incentive to drive the stock price as low as possible.
You keep trying to link all financings as "toxic" in some way. They are not. Conventional financing is either straight debt or fixed price equity where the incentive is to have the stock price go up. Only these death spiral convertibles are defined as toxic because they kill companies that issue them through the incentive to drive the stock price lower. Guaranteed.
And don't look now, but NBRI has been accelerating their toxic financings. And they ARE using the most disadvantageous pricing possible - 2 lowest prices in the last 25 days.