I wonder how much of the resent trading has to do with the $32...

I wonder how much of the resent trading has to do with the $32 Million in convertible notes. We are coming up to 12 months since they were first issued.
Given the minimum conversion price of 25 cents, there is no point in driving the price below 29.5 cents at this stage. If all notes are converted to shares, at 25 cents, it will more than double the total number of shares on issue, but mean MOZ will not need to pay back the $32 Million. We may have 2 competing forces here, one desiring a higher share price to reduce dilution, the other wanting to convert to as many shares as possible.

From the Prospectus:

• after approximately 12 months from their issue date, Notes are convertible (in whole or in part)
into ordinary shares at the lower of $0.515 and a 15% discount to the 30-day VWAP of shares
(or the price of any equity raising of the Company during that period), subject to a minimum
conversion price of $0.25; and
• a 3 year term to maturity, maturing on 30 September 2024