gullewa sale options

Yaqona,

Please explain something,

What if ATW shares trade at say $1.50 what can BTV elect to do when the payment is due in July then Dec up to the final payment?
From the way I understand it BTV can elect to receive 10 million shares in ATW at $1 each to reach the equivalent agreed cash price of $10m that is left owing to BTV. Is that right or am I way off the mark?

Therefore if ATW is trading at 1.50 say does that mean BTV make 50% extra on the Gullewa sale?