Ann: Application for quotation of securities - SPT, page-13

Sounds fair. The market price of Splitit is 7.5 cents per share. There are 550 million shares on issue.

-2 billionaires have agreed to purchase Convertible Notes for $10 mil over 12 months, in exchange for shares issued between 4 and 6 cents.

-another bunch of guys come along and are prepared to tip in $50 mil to save the company (after the other guys have saved it). And they are going to pay shareholders 31 cents per share for shares which used to trade at 7.5 cents before the next guys got their 2 million shares for 4-6 cents?

And the market price for SPT shares is now 31 cents

Can anybody join the dots for me? I am lost