nasdaq questions, page-7

I'll actually answer the question rather than smart arse responses. I was curious too....

I think rayjohnston means this post: http://hotcopper.com.au/post_threadview.asp?fid=1&tid=1717104&msgno=7982278#7982278

Some reading that actually helps: http://thismatter.com/money/stocks/american-depositary-receipts.htm

Based on the original post from KAT, and reading the page I posted above, my take is this:

At close of NASDAQ on 16th April, BNYM will (hopefully) have orders for a number of shares outstanding. Lets say 1 million PBMD shares have been bought. BNYM will then need to buy at the very least 30m worth of ASX:PRR shares to fulfil those orders. Come tomorrows AU trading day, BNYM will need to purchase 30m PRR shares on market. BNYM will then be able to convert those 30m PRR shares in to PBMD ADRs and there will be 1m 'shares' available to trade.

Questions I dont know the answers too:
What the initial list price will be - I imagine ~usd$8.37 (au27c x 30 converted to usd)
Will BNYM purchase more shares up front to cover upcoming purchases and have the ADRs available? Or will they just buy next AU market day if available ADRs do not cover the outstanding open orders?
How does BNYM make money out of this?