cash position update?, page-9

There is 1.8B shares on issue not 2B which gives it a market cap of $5.4M – it’s a similar share structure to SMA at a fraction of the market cap.

The only notes being converted is this one:

As they are converting a $500,000 note into 100M shares, the conversion price is 0.005c which is the 52 week high for this stock.

I wonder what they know as a sophisticated investor that we don’t that makes them so happy to convert like that?