Are TIRN the Convertible Notes talked about in TIRN Disclosure...

Are TIRN the Convertible Notes talked about in TIRN Disclosure Doc, does it mean that if you buy TIRN now u have to pay more at settlement as per the following paragraph?

Convertible Notes

The Company has issued a total of 27,650,000 Convertible Notes to third party

investors at an issue price of 3 cents per note to raise a total of $829,500. These

Convertible Notes are non- interest bearing for the period of this Rights Issue and

thereafter interest is payable at 12% per annum (paid quarterly) payable in Shares at

market value.

The Convertible Noteholders, by providing the Company with the funds of $829,500,

have simultaneously sub- underwritten 27,650,000 Shares under this Rights Issue on a

priority basis. Accordingly, the Convertible Noteholders will be issued with the first

27,650,000 Shares which form the Shortfall and such issue will represent the

extinguishment of the Convertible Noteholders' sub-underwriting obligation. To the

extent the Shortfall is less than 27,650,000 Shares, the Convertible Notes will convert

to further Shares with a value equal to the difference between the Shortfall amount and

the amount required to place the Convertible Noteholders in a position where they

hold Shares to the value of $829,500.

HELP PLEASE??