I calculate it differently. 50 per cent of old share value was...

I calculate it differently. 50 per cent of old share value was lost in terms of new Convertable Note issue. It opened down 35 per cent IE 15 cent notional open , it opened 9.7c .
Then it fell a further 43.3 per cent over the day to 5.5 c.
so I would add the 35 per cent to the 43 per cent making 78 per cent . Then I would divide this by 2 to take into account the 50 per cent devaluation - making 39 per cent. This is taking into account fall to first trade and also fall on day on half value shares. I think the shares are currently 11 per cent of their old value. If this is correct the new shares are presently worth one tenth of the old shares.
If you are going to calculate it off the market cap , you have to factor in the 6 million