Gotta think this conversion was done as some behind the scenes milestone has been meet. 

Possibly, especially in the context of everything else alledgedly going on. In line with speculation on the timing of the conversion, we musn't forget however that the debenture was convertible at any time at the then average daily trading SP on election (forget over which period, 15, 30 days etc).   ORI possibly saw how easily the SP went from the .070's to $1.50 a little over a week ago, so its possible that the timing of their conversion today has something to do with a bout of FOMO.