I believe the 18 months is when they automatically convert ... but they can elect to convert earlier. It's a small consolation but it gives them some flexibility. This is very high risk investment in a company with $0.00 revenue currently where a pandemic that shut them down is still in play ... what if the India variant rages in the fall and Joe was staring at a 6 month deadline. I would rather give Joe the option based on the circumstance they are in ... it seems like good business sense ...