If all trades are at 1c - in theory Bergen can convert notes at...

If all trades are at 1c - in theory Bergen can convert notes at .9 * .001 (rounded down to the nearest 1/10th of a cent). In this case .0009 and after rounding ZERO.

In short, Bergen will be entitled to an infinite number of shares. WHAT A FIASCO.

Response: ASIC should be all over this species of market manipulation - Bergen played our company for dupes and we (through lack of vigilance) sanctioned this at an EGM in February (talk about being our worst enemies).

I confess I should have been awake and taken a proper look at the time - didn't look at the conversion mechanism in any detail - KEY FEATURE: They were in the money the more the price went down and boy did they skillfully manage (hammer) it down - made a fortune while we are left to bear the pain.