There is no way how to convert a playlist (*.m3u8) to actual MP3 audio. A playlist contains just references to the location and order of the *.mp3 file that should be played back. All .mp3 files listed in playlist .m3u8 file must be together with playlist file or have correct paths to play playlist properly.
This conversion entry was verified by us and conversion was flagged as wrong or not possible.
Usually this happens when the conversion would try to convert different types of data between each other, such as audio to image, or it is not possible because incompatibility between programs, caused by closed file formats, very limited support etc.
If you find entry that you feel is flagged as bad wrongly, please tell us in the discussion below with as much as information as possible so we can fix it.