Ann: Company Update, page-3

So the convertable note which is about 15 million dollars ozzie gets converted at the lower of the market price and 3 cents , so it gets converted at 1.3 cents which gives them more than half the company for 10% of the debt , what do they do with the other 90% of the debt ? it seems noble and ocp are too scared to ask for it back as they dont want to hear that the cupboard is bare .... they had 20 mio of interest last year most of which they didnt have to pay , they had 2 million in director pay , they need to do 2 million tons to cover those items but they have big issues with the trucking of a tiny fraction of that ....