Nordic

American Oriental Prices Convertible Notes

This has got to be one of the dumbest things I have ever heard of - unless the point of it is to get cheap stock into the hands of some big buddy - or accomplise. If you sell a convertible, you are giving somebody a call on your stock because you think you can use the cash for some better purpose - to grow the company. If you use the proceeds to buy back stock you are subverting the point of the maneuvre and don't have that cash left. The 15% premium to the present price of the stock is extremely generous to some unknown buyer and I can't get the company to tell me who it is.
Disclosure: I have been an owner of this stock for some time, but this kind of thievery makes me want to sell as soon as I can see a tolerable opportunity.