The investor could have put up the money to get Platinum out of the way with more favorable terms, knowing a better deal is being negotiated. With the CEO's previous comments, it's obvious the relationship with Platinum went south. Platinum may want too much to extend financing further or Dais may simply be estatic to stop answering to Platinum. If a buyout gives more than .28 a share, then the option to convert makes sense, otherwise they get a 6% annualized return.
The investor was obviously doing a huge favor for Dais. Flailing companies can't negotiate short term loans at 6%.