For anyone interested in keeping track of the CN:
In early 2018 ANW paid Lind the remaining balance of the original CN. They then resigned this current deal which came with a conversion floor price of 3.5c for the first 10 months. The deal consisted of a $3.5m loan secured by a convertible note for $4.2m (20% upfront interest), plus some collateral shares and some unlisted options. The cash was drawn down in 3 batches, the last was in Jan this year.
| Date | Amount Drawn Down | Outstanding CN Face Value | Collateral Shares | Unlisted Options | Option Conversion |
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| 1 | 25/06/2018 | $1,500,000 | $1,800,000 | 15,000,000 | 41,250,000 | $0.035 - expiry 25/06/2021 |
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| 2 | 17/07/2018 | $1,000,000 | $1,200,000 |
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| 3 | 17/01/2019 | $1,000,000 | $1,200,000 | 10,000,000 | 16,500,000 | $0.035 - expiry 17/01/2022 |
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| 4 | Total | $3,500,000 | $4,200,000 | 25,000,000 | 57,750,000 |
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After the 10 month conversion floor price expired, Lind began converting in April this year with a $150K conversion. It looks like they are currently settled in a routine of converting about $250K per month. As of today's conversion, we have now repaid 26% of the total by issuing 142m shares, with $3.1m still to repay. Since they take 20% interest upfront and convert at a discount to vwap, to break even they can sell up to 20% below conversion price.
| Date of Appendix 3B | Outstanding CN Face Value | Amount Converted | Conversion Price | Number of Shares Issued |
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| 1 | 12/04/2019 | $4,050,000 | $150,000 | $0.0121 | 12,396,696 |
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| 2 | 8/05/2019 | $3,850,000 | $200,000 | $0.0091 | 21,978,022 |
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| 3 | 11/06/2019 | $3,600,000 | $250,000 | $0.0096 | 26,041,667 |
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| 4 | 24/07/2019 | $3,350,000 | $250,000 | $0.0062 | 40,322,581 |
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| 5 | 26/08/2019 | $3,100,000 | $250,000 | $0.0060 | 41,666,667 |
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| 6 |
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| $1,100,000 | $0.0077 | 142,405,633 |
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