Correct.
Mr Bull and Mr Johansson has lent in return for convertible notes, unsecured, the company $50,000 and $100,000 respectively at an interest rate of 12% per annum At anytime after the issuance of the upcoming entitlement offer, to be made to both SH’s and soph investors they can convert to shares 1 note for 1 share.
This clearly indicates to me their commitment and confidence in the company’s assets.
Ann: Change of Director's Interest Notice x 2, page-16
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