yes. all debt securities sit ahead of common equity

Just get an early slice of their tokens and cash out prior to bankruptcy its what all the cool kids are doing

i will call my lawyer guy next wk concern/same for friend & report back*/*

Depends on the note terms and conversion. If it is an upside only note where the note holder owns the option to convert then you will have seniority over the equity holders.

If the convertible has a downside option exercisable by the company then you will get converted to stock and put on par with equity holders (these were commonly known as COCOs).