Ann: Prospectus Convertible Note Entitlement Offer, page-28

I just want to clarify what these convertible notes are and what it means for holders

Are they basically a voucher that is equivalent to having a chance to buy shares at a discount?

So for example if I have 1000 notes that is the same as being able to buy $1000 worth of shares at a 8% discount of the 20day weight average price?

So really if I get these notes its not really in my interest to convert these when the trading price goes up, because I'll get more volume if the price remains about where it is now or lower. And only once I've converted will I want the trading price to go up.

So we could see a pattern of holders converting then dumping over the next 3 years?

Am I around the mark?