Under the terms of the Converting Loan Agreements, Faldi Ismail...

Under the terms of the Converting Loan Agreements, Faldi Ismail proposes to loan up to $112,500 to the Company and Mark O’Keeffe proposes to loan up to $265,000 to the Company (on an unsecured basis). The loans will convert into ordinary shares and options, subject to the receipt of shareholder approval, as follows:
(a) Mr Faldi Ismail will be entitled to 12,500,000 shares at an issue price of $0.001 each, 10,000,000 shares at an issue price of $0.01 each and 20,000,000 options at an issue price of nil (zero) each; and
(b) Mr Mark O’Keeffe will be entitled to 35,000,000 shares at an issue price of $0.001 each, 23,000,000 shares at an issue price of $0.01 each and 50,000,000 options at an issue price of nil (zero) each.