However, it looks like I may wrong!
Apparently the Cornell capital convertable notes included a provision whereby they could also convert at a price equal to the lowest price ADY would do a placement at.
On the 16 May 2008, ADY placed 26,800,000 Ordinary Shares @ $0.175 per share totalling $5,005,000.
Therefore, Cornell Capital were also able to convert at that price.
Regards
SP
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