Ann: Appendix 3B - Conversion of 153,650 Convertible Notes, page-9

Lets do a bit of maths.

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

USD$169,015 / 0.77 (conversion rate) = AUD$219,500
* I believe the conversion rate is right, but not 100% sure.

AUD$219,500 / 26,134,249 shares = ~0.84c / share

So at 0.84c per share, I assume the VWAP was (0.84c / 0.9) ~0.93c.


Profits @ 1.1c = ~$67,949.0474
Profits @ 1.2c = ~$94,083.2964