Dabru,I think your interpretation of how the convertible notes...

Dabru,

I think your interpretation of how the convertible notes will convert is wishful thinking. Indeed, I read your post last night and went to bed happy, only to re-read the terms in the ASX release today and realise that it probably isn't the case (still happy ... life's too short!).

As far as I've read, it appears to be a straightforward conversion, where if they decide they want to convert them (rather than receive their money back at the end of the year) they will convert to shares. There is no talk of options or anything of the kind, so it appears that they will receive shares instead of a refund. If I've read this wrong, then (anyone) please correct my correction.

It would have been nice, in that it would have provided extra cash-flow at the end of the year. Hopefully there will be so much money flowing back to Australia by that time (half a year at full SUS capacity for TruScreen & Cerviscreen selling in China) that they won't need it by then.

It shouldn't matter too much in terms of dilution .. as long as this $1M+ and then the $2M soon (from China distributor) does the trick and sees them through to break-even -> profit.

Cheers and Happy New Year to all