CONVERSION OF DEBT. Persons or entities holding at least five hundred thousand ($500,000) dollars of the outstanding principal amount of the debt represented by the MFC Bonds shall have agreed in writing to convert to MFC Common Stock of MFC, subject to the Closing (the "MFC Bond Conversion"); EXHIBIT 2 to SCHEDULE 13D
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Sources: Acquisition Agreement (Jeffrey S. Edell & Elaine Hastings Edell, as Trustees of the Edell Family Trust Dated June 1, 1991), Acquisition Agreement (Nancy Duitch & Dennis Duitch, as Trustees of the Duitch Family Trust Dated January 9, 1989)