Looks to me as if the company wanted some cash without having to mark down shares for/to the kinds of financiers they have been using.

If the loan is repaid, it will have cost nothing. That's good, right?

If the loan is converted to shares, it will have been somewhat at "fair market value" without a discount. Again, that's good for the comany, no?

Otherwise, I don't see that this means much at all, but that's just me.

VP