Convertible notes are basically you loaning the company money for three years.
In return you get get a good interest rate of 8% per annum.
Alternatively you cash them in early or at the end of the term for an 8% discount on the prevailing share price (20 day VWAP) capped at a minimum price of $0.40 and a maximum price of $1.20
If the share price rises you don’t get as many shares, but you still get them at a discount to the share price, and it is really good if the share price rises above $1.30 as then the maximum cap means the discount would be greater than 8%
If the share price was to jump to $1.60 then the notes would be converted at a 25% discount, ie $1.20.
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- Ann: Prospectus Convertible Note Entitlement Offer
Ann: Prospectus Convertible Note Entitlement Offer, page-29
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Mkt cap ! $38.24M |
Open | High | Low | Value | Volume |
17.5¢ | 19.0¢ | 17.5¢ | $14.11K | 80.40K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 99803 | 17.5¢ |
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Price($) | Vol. | No. |
---|---|---|
19.0¢ | 70576 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 99803 | 0.175 |
4 | 222738 | 0.170 |
2 | 4150 | 0.160 |
3 | 19000 | 0.100 |
1 | 50000 | 0.030 |
Price($) | Vol. | No. |
---|---|---|
0.190 | 70576 | 2 |
0.195 | 82800 | 2 |
0.200 | 11166 | 2 |
0.210 | 13721 | 1 |
0.215 | 26100 | 1 |
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