"My calculations are 12.7c under clause c" Your calculations are...

"My calculations are 12.7c under clause c"

Your calculations are wrong

Given that the notes has even been issued yet, I find it highly unlikely (impossible) that there has been a redemption request (principal payment).

Therefore the past 20 trading days vwap mean nothing. And even as an example, cm8 would simply pay with cash from the $5m in bank and $650k FCF per month.

It's effective of the redemption request date. (Principle payment)


Redemption (principle payment) is at crowds election. Cash or shares

The company intends to pay the majority of principle payments from operating cashflow.

Serious mate. ????