Aiming to become the global leader in chip-scale photonic solutions by deploying Optical Interposer technology to enable the seamless integration of electronics and photonics for a broad range of vertical market applications

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A debenture, convertible or not, is a security, so I believe the same rules apply as to a purchase of stock.  The insiders may have made an irrecocable commitment to buy the debenture sometime ago, at a time when their legal counsel told them they could.  So, I don't think one can assume that no good news can be coming for quite a while. 

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