If what you say is correct then there is really no fear of these debentures. Unlike the warrants or options, there is no need to raise cash in order to exercise. Also I would assume there would be no taxable benefit until the newly acquired shares are sold. I am assuming then that the company has decided to eliminate a high interest loan and thus clean up the balance sheet. Let us hope this is the harbinger of something good about to happen. Maybe not Monday, or next week, or even next month, however maybe in the forseeable future. LOL