Hi colin,

Thanks for your input.

However, I suggest you re-read my post carefully.

When I was talking about the "best" and the "worst", it was from the viewpoint of the "lender" or the person who buys the bonds.

I am sure that I have noted that (in the brackets)

From the viewpoint of  the "already invested", I understand that it is bad.  It can all be summed up by the one word - "dilution"

The good side is that given all the sizes of things involved - the money sizes, the dilution should not be a high-impact dilution.

Have you  considered being one of the bondholders?

That is, assuming you are ever given the opportunity.  I doubt that I will be given such an opportunity either.