Yep, pretty sure they can. (I don't remember a floor price in...

Yep, pretty sure they can. (I don't remember a floor price in the agreement after the intial 3.5c floor expired).

The same conversion rule applies even with SP at 0.1c.. conversion price as a discount to vwap etc, then the usual: $ amount converted / conversion price = number of shares issued. They wont be able to sell them below 0.1c on market though, so the risk for them becomes buyers drying up at 0.1c leaving them unable to sell. The consolidation would have given them room to keep selling down, but it was not needed for them to keep converting.