Not in the least suspicious of any hidden agenda associated with your post. Yes TM made the comment but what I think happened is that there was no interest to convert early. As a matter of fact the opposite may in fact be true. There are those who would be interested to see the maturity date of the debentures extended.

Remember that one of the goals of the debenture was to limit any near term dilution until revenue becomes established. In addition there was a desire to ensure long term and friendly shareholders were the buyers to avoid the mess that occurred with the previous financing.