why trading $0.04 +, page-6

JB,
from my understanding the company is now debt free by repurchasing the secured notes.

as they stated previously and reconfirmed in that parragraph the warrants and GUP notes remain in play.

to my understanding the warrant price has already been set, i can't remember what price but it was somewhere around 23cents i thought which means the warrant holders can convert them to shares at any time up until their expiry paying 23cents per share. At present they are worthless as the share price is 4cents but if the share price goes above the warrant exercise price (before the expiry) then holders could and will probably convert them to shares whereby they pay the company (ie)23cents per share.


the GUP notes means AXM pays those holders 30% of the gold price above a set figure, again off the top of my head it was around $1140AUD.
ie if gold $1200 AUD oz, then for every 1oz that apex sells it pays the GUP holders 30% of (1200-1140)= $18
The GUP notes i think have a set expiry date and also a certain maximum number of ounces.


just going off memory and my basic understanding, i'm not a finance wizard so if anyone can correct anything i may have wrong please do.

cheers
Davo