Ann: Proposed issue of securities - CLZ, page-9

It is purely a conversion of debt to equity, 108K of debt converted to 108 million shares .. If you have a look at the precise number of the loan amount, it may have been one of the loans to the company. I don't know why anyone would bother, but the chances of getting the money back are slim & the chances of selling the shares on the market are even slimmer. There may be some announcement coming & the shares may be seen as a better option. Also, the Co can claim they have reduced debt. We will have to wait & see if it's just shifting chairs on the Titanic.