Hi Dan,
I'm not sure where you're confused? So lets nut it out.
US$7,875,000 of the Notes were converted to stock using a strike price denominated in SGD, so first convert the US figure to the home currency = S$10,624,949.84 (at today's conversion price, which will only be close, not exact)
Then divide that capital amount into stock at S$0.71 = 14,964,718.0281 shares. Close enough if you allow for a flexible FX rate (+/- a few cents).
Then compare that to a non-consolidated conversion of the same dollar amount (S$10,624,949.84) at $.12105 = 87,773,232.8 shares. Divide that by 6 so consolidate = about 15m shares. So as far as I can see the numbers are right?
As for how much money the Company received on the conversion the answer is none. The Company got to write off US$7.8m in debt for cash they received in 2013.
Thoughts?
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