VNL 1.01% 10.0¢ vinyl group ltd

Ann: Mobilarm enters into investment in Jaxsta Enterprises-MBO.AX, page-17

  1. 3,122 Posts.
    lightbulb Created with Sketch. 162
    Maybe it's a Jaxsta holder/investor,

    Deal being we'll buy you at an over inflated price (a ridiculous price in my mind), and you buy us to push our share price up for the below:-

    "The Company has $2,000,000 in convertible notes entered into on the 30th of January 2016. These carry a 12% interest rate and are convertible at $0.06 per share. These notes expire on 29th July 2016.
    The Company also has an additional $971,525 in convertible debt, convertible that expires on the 7th of March 2017 and carries an interest rate of 6.0%. The note is convertible by the noteholder upon giving the Company thirty days notice at the lower of $0.007 per share or the price of any new Entitlements Issue. The note can be converted by the Company at the expiration date at a price that equals 80% of the trailing 30 day VWAP at the time of expiry."
 
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