$25M...... loan at 8% ~ or ~ shraes at $3.50

"The Convertible Debentures bear interest at a rate of 8% per annum, calculated from their date of issue, to be paid quarterly in arrears, and have a maturity date of December 13, 2017 Furthermore, the Convertible Debentures are convertible, in whole at the option of the holder at any time prior to the Maturity Date into class "A" shares of the Company at a conversion price of $3.50 per Common Share."  

i can live with that.