Ann: Conversion of Loan Notes, page-4

ghee,

"Why would they otherwise." As Indijo has already commented, to trickle the shares into the market to make money.
However I noticed they only got this lot at .4c, so not much profit unless they sell at .5. the previous lot the price was .5c when the SP was .7 IIRC.

I've been stating that this was a poor investment for years, it has lost something like 97-98% of it's value since then. It's not a "wet dream" when it goes broke, it is inevitable. But don't say no-one warned you.