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Davy Boy

6,903 Posts.

997

31/08/16

20:14

Post #: 18837726
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Originally posted by TheSavage1 ↑

To me the formula reads as such:

You take the daily VWAP for the 15 days prior to conversion. You then select the lowest two. You then take the average of these two lowest VWAPs ("the average VWAP"). You then take 85% of the average VWAP and round down to the nearest .001 and this is your final price. However, if the average VWAP is less than .006 you take 80% of the average VWAP as your final price.

This matches with the examples given in the notice of GM.

This, unfortunately, means if the average VWAP is anything less than .0025 then the final price is .001. And to get the average VWAP down to .0025 it only has to be the two worst days in the prior 15 days having an average daily VWAP of .0025. Given the large volumes sold at .002 it seems entirely plausible that the issue at .001 was correct.

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Hi savage I thought the maximum discount price was 80% of the vwap? Its obviously more if the vwap is .025 and the whack them out at .001? DB

Last edited by Davy Boy: 31/08/16

KBL Price at posting: 0.2¢ Sentiment: Hold Disclosure: Held
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