Ann: Release of Securities from Escrow, page-9

Could this have anything to do with the recent price slump?

Subject to the Company receiving shareholder approval for the issue of the Convertible Notes, and the Company issuing them to the Investor in replacement of the initial loan notes, the
Investor will have the ability to convert the Convertible Notes into fully paid ordinary shares of the Company at a fixed conversion price of $0.09 per share, except if at any time the daily VWAP of
the Company’s shares is less than $.035, following which the conversion price will become a variable conversion price of the lower of a) 92% of the average of the two lowest daily volume-
weighted average prices during the 10 trading days prior to the Conversion Notice Date and b) the Placement Price of $0.09 per share.