Hey JJ,
So each bond is worth $10,000. 4.3(c) the face value of each Convertible Bond is $10,000 as per Bond prospectus.
Convertible Bond means a zero coupon convertible bond issued by the Company pursuant to the
Bond Agreement with a face value of $10,000. (Glossary page 20)
29th of July...today issued the seventh tranche of 100 convertible bonds at an issue price of $10,000 each to Asia Convertible Bond Opportunities, LLC for a total subscription amount of $1,000,000.
4th August...today issued 3,750,000 ordinary fully paid shares at an issue price of $0.08 per share to Asia Convertible Bond Opportunities, LLC (“ACBO”), being consideration for the conversion of 300 convertible bonds for a total value of $300,000.
13th of August...today issued 3,750,000 ordinary fully paid shares at an issue price of $0.08 per share to Asia Convertible Bond Opportunities, LLC (“ACBO”), being consideration for the conversion of 300 convertible bonds for a total value of $300,000.
So there is ANAL for you Rob lol... shouldnt these two conversions be 30 and 30 convertible bonds respectively? Being a total draw down of $600,000 not $6,000,000 as each bond is $10,000 not $1000.
Please correct me if I missed something in the prospectus. I never picked up on the conversion of $10,000 bonds in the $1000 ballpark figure as per announcements?
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Hey JJ,So each bond is worth $10,000. 4.3(c) the face value of...
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