All of Catch Themes’ “Pro” themes are apparently licensed under the GNU General Public Licence v3, however their download pages don’t contain any link to the source code. If the source code is only available after payment, this is in breach of the licence.
The theme file itself is the source code. In PHP, the server compiles the codes on the fly so, there is no code conversion. Let me know what you want and I can point you that where that piece of code lies.
It’s same for all the theme companies, you can check out WooThemes, Elegant Themes, thethemefoundry, ThemeForest and even WordPress.com premium themes. All uses similar business model which is call “Freemium”. We all release under GPL license.
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