So, best case: - AMI converts Glencore debt into 300MM shares. -...

So, best case:

- AMI converts Glencore debt into 300MM shares.
- Pacific Road provides $12MM in loans convertible into 1.2B shares at $0.01/share.
- AMI conducts a capital raising to raise $25MM (which would mean a further 2.5B shares at $0.01) and Pacific Road backstops the whole sorry fiasco for consideration of 40MM 5 year options with a strike price of 0.0125.

Heavy dilution for existing shareholders, unless you elect to participate in the capital raising. But who in his or her right mind would give this management team any more money?

I bailed earlier after doing 70% of my investment. I sympathize with those who continued to hold.