The noteholders are going to get their $21 million dollars by converting AMBS stock, not by selling Avant shares. Best case they might have gotten 1 or 2 million from the Avant shares, so with 10% (30 million shares) more dilution, hypothetically they will sell the shares for 10% less? Who cares?- Amarantus is a much more valuable company now which if anything will make it that much easier (because of a higher share price) for the noteholders to get their money.