Ann: Extension to Junior Debt, page-12

Yes ... But shares were still issued at $0.10, almost 20% premium to current price so not such a bad deal for CM8. It's also sort of making a statement that vendors are still committed to holding their shares, addressing some of the questions regarding vendors intentions after their holdings recently came out of escrow.

On another note, at this rate vendors could potentially buyback the farm for considerably less than what they sold it for and pick up CM8 as a bonus. It brings to mind the time Kerry Packer sold channel nine for a over the top price to Bondy and then bought it back more cheaply soon after saying "you only get one Allan Bond in your lifetime".