"Unless of course I am completely mistaken, and 'lesser' means lower share price, therefore its 92% of an average price of 4c and that is 666,666/.0368 = 18,115,923 new shares. "
Yes, I agree you are completely mistaken...
From the 3B
"1,780,000 Convertible Securities - Assuming a conversion date of 2nd March 2016, these Convertible Securities would convert into 42,438,446 Fully Paid Ordinary Shares
500,000 Convertible Securities - convertible into 18,556,869 Fully Paid Ordinary Shares (applying an assumed conversion date of 7 July 2016)"
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