Ann: Appendix 3B - Conversion of 150,000 Convertible Notes, page-18

Damn you @Cosmo64 , for a second I thought it was notice of the final conversion.

Conversions will be going off this as we're not above 1.8c.

Each CN has a face value of USD$1.1

153,650CN @ USD$1.1 = USD$169,015

According to the CN prospectus, exchange rate is fixed at USD$0.77 - AUD$1

USD$169,015 / USD$0.77 = AUD$219,500

Unfortunately I do not know what the VWAP is for the last 10 trading days, so lets assume it's $0.01 (1c).

$219,500 / $0.01 = 21.95M shares


I hope my calculations are correct, otherwise let me know.