Perspective, page-17

Last year AP raised capital and diluted the shares and a portion of that goes to paying interest on con notes that will also dilute the shares. I think if it wasn't a director and mate AP would have said the term is up shares are trading 50% higher than your conversion price either convert them or we will raise another 3 million with a share allocation. There would have been plenty of people willing to pay $15 per share in June/ July with less dilution.