this link magix66 posted is well worth a read
https://hotcopper.com.au/threads/an...-of-denmark.4255968/page-108?post_id=33936078
Basically have been converting their notes in batches and selling into the market, time and time again.
The first lots of notes that were issued to Magna did not have a floor price which were really bad and Magna could dump in batches and then always convert more at a discount no matter what the shareprice was. ASIC questioned this, and there was an announcement from the company regarding it.
https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvTDYC5Qq8yxSZrfl0ke92GA==
The latest lot of notes have a floor price and Magna with a shareprice at 0.005 would be probably in the red with those notes. With all Magna' investments, a 10% $$ uplift is applied before the notes are issued and they are able to convert the notes to shares at a discount to the sp vrap. I can't remember the exact conversion floor price on these notes but it's around 0.006 for each share issued. I suspect Magna would be very reluctant to invest more $$ and take more notes on the same terms.
