The terms of the convertible notes that expired along with those that will expire later this year are as follows: If CardioGenics does not pay back the money along with the agreed upon interest rate the note holder will receive the equivalent number of shares. The share price will be based on a number equal to 40-42 percent below the lowest closing price for the prior 12- 15 trading days...... This procedure invites manipulation and is another example of the inability of the SEC to properly regulate the markets. Example: Assume CGNH traded in a 2.5--3.5 price range for 15 trading days. On that basis a $50,000 note holder would receive about 3.5 million shares. If that note holder sold CGNH aggressively on one of the 15 days driving the closing price down to 1.75 he would then receive close to five million shares. A very profitable manipulation!.....Obviously if the SEC wanted to stop this form of manipulation they would require note holders to use the average closing price for the number of trading days used.