Ann: Strategic Investment by Bonafide, page-19

Ideally as a shareholder & someone who would want to invest in the Convertibles I'd want the conversion price set at a predetermined level now with the conversion optional if the share price falls below conversion price (repaid at face value).
8% off the sp at the weighted average before the prospectus being issued would be fine with me.

What we don't want is the conversion rate trailing the share & the opportunity for someone to pick up a material amount of convertibles . There wouldn't be anything to stop them shorting the he'll out of the sp for a 3 years & then converting into shares & closing their shorts. I've seen it happen before & the company in question sp fell over 90%.

I await the terms eagerly.