Not sure if anyone is still following the convertible note here anymore, but I updated my old tracker from when I was holding just to see where its up to.
Here's the current stats, including todays conversion of $100K (into 111,111,111 new shares)
Original Amount Owing: $4.2m Already converted to date: $2.215m Still remaining to convert: $1.95m
So the good news is, its now past half way through.
So here we are, having so far issued just over 1.3b shares to service the CN, leaving total shares in issue at 3.55b. To complete the conversion at the current conversion price there will need to be another 2.2b issued on top of that. The result would be a total shares on issue of almost 5.8b.
Note: In August (7th and 11th) two CN's "matured" and a total of 111,111,111 extra shares were issued for free (part of the T's&C's I assume) In September (9th), another $135K was added to the CN loan - keeping those salaries coming I guess!
Anyway, hope that's of interest to someone out there
