Let's discuss;They will take 40% in equity for cancelling 15mln...

Let's discuss;

They will take 40% in equity for cancelling 15mln debt;


What does it mean they take 40% in Equity ?

Option1)

1) additional equity will be issuud Meaning 40% of current aprox 500mln shares = 200 000 000
2) This additoinal 200 000 000 mln shares will cancell debt of $15mln >>> 7.5c per share contirbution (for "new entrants")
3) That will leave us with 700mln shares on issue and NTA value of 275mln ($0.52*500000shares) + 15 mln contribution from debt convertion to equity)
4) Then divide $275mln by 700mln shares = 0.39c per share