If they bought their own debentures there would be no debentures out.

I dont understand your thought.

compare crk and sgr and their debentures and operations.

why is sgr.db at $30 and crk.db at $75 they are each gold producers and trading about the same share price. the reason one is making money and the other is loosing money.

when a company issues a debenture they make a commitment to buy it back at a later date, simulare to a promisory note or loan.