Company A owns 40 million ordinary shares issued by Company B. The total number of ordinary shares issued by Company B is 100 million. At the same time, Company A also holds $10,000,000 of convertible debt instruments issued by Company B. Each $1 of debt is convertible into four ordinary shares of Company B. The total outstanding convertible debt at year-end is $12,000,000. All things being equal, does Company A have control over Company B under the following mutually exclusive circumstances?

(a) Company A has a current right to convert the debt into shares, but chooses to hold the debt securities to maturity.

(b) Company A has a current right to convert the debt into shares and also a right to sell its convertible debt instruments to the other existing shareholders for cash at fair value.

(c) Company A has a current right to convert the debt into shares, but at the same time, it also has an obligation to sell its convertible debt instruments to a third party for cash at fair value.