The notice indicates that the offer could be withdrawn if they...

The notice indicates that the offer could be withdrawn if they decide they need the cash. The sceptic in me worries that they could issue this notice, inducing many to convert and then withdraw it at the last minute to avoid having to pay for those who don't convert, while avoiding interest on those notes that were converted early.

Also, factoring in unpaid interest in the conversion calculation is at the discretion of the board. Does anyone know when interest payments are due to be paid? Wouldn't like to convert when there is a large interest pending in case they decide not to include that in the calculation of shares. (Or would they have to pay the interest in cash if they don't include it in the conversion formula? The info seems ambiguous to me.)

Disclosure: Hold notes and heads.