So i think the missing factor here is the ASX. I would suspect...

So i think the missing factor here is the ASX. I would suspect they will require MEC to do a capital raise before trading again and it will need to be fairly sizeable, otherwise we would already be trading again. So what price are they going to do it at? $0.004? Who knows, but they will need to be around that mark.
Which is why i think MEC will be very good value when we do get trading again, and hopefully shareholders can top up at the same price that directors are getting converted at.