When considering those 5 conversions that have already taken...

When considering those 5 conversions that have already taken place, they resulted in 22,480,563 Ordinary shares being issued.
It will only take 1,431,285 more shares to force that "investor" to lodge a Form 603 “Notice of Initial Substantial Shareholder” with the company and the ASX.
Now, "if" that size conversion does take place and we don't see that Form 603, then we will know that some of those shares have been sold!!!!
The cost of converting those notes have so far averaged 4.7 cents per share around $1.05 million.
The total selling price based on the average selling prices after those 5 purchases would have yielded $1.7 million IF they were all sold.
Doesn't that term of conversion create (and enable) wonderful opportunities? (and, again, I am not in any way suggesting that that has happened, just that that term certainly does create and enable those opportunities, and that's what makes people raise such questions.)
May not be connected, but "shenanigans" are most certainly continuing today!!!!