Great post, as always. There is so much going on behind the scenes here that it can be hard to keep it all in focus even when you are paying attention. One thing that we can all agree on is that it is rather unlikely that Jan intends to let these shares convert. He is very much focused on shareholder value (I'm sure being a major holder gives him some degree of motivation), and we are not long from obtaining the kind of revenue that would make paying these notes back trivial. Just another step on the road to greatness.