thanks for everyone's replies. Fishinnick....that does seem to explain it to me the way I WANT TO THINK IS CORRECT. Because they will never get their money back if the SP doesn't reach 18cts or better (except that they would have got 10% int. which is nice ....I would have given the company $100,000 for 10% interest myself (if I had it) ...but they didn't ask me....I wonder who did take up the Conv. notes? Is there a way to find out?
Hey Mogga...was that you picking some up? Celtic?
Ann: $600,000 Issue of Convertible Notes-NAG.AX, page-21
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