Ann: Becoming a substantial holder, page-13

Eloi, it’s just how convertible notes work, and the ASX announcement didn’t spell out the precise terms and conditions of the notes. Do you honestly think any lender with half a brain would leave themselves in a position where funds they loaned could be converted (against their wishes) into equity in a company at $0.20 when the shares were trading at 5% of that value?? Obviously not!! Ask your mate Karl if you don’t believe me. And please, no further discussion of this issue - you’re embarrassing yourself.