I agree about the investigation, including the VWAP figures as KBL's independent checks may possibly have used dud data supplied by a third party. Some on this forum have lodged a complaint and I assume it is happening. My observation was that VWAP was very suspect for at least one of the earlier conversions. (I only checked one)
Although sales yesterday were recorded at 0.1c, most were done at 0.15c so the conversion should still be at 0.1c using the currently used formula. Note that the table in the prospectus showed the potential dilution at various SP values. Its purpose was not to show how the pricing was worked out.
The convertible notes have been a fiasco. The last note raised less than $470,000 and resulted in more than 580M shares and options potentially being issued. Less than a year ago KBL had in total 580M shares on issue. The market cap was then about $5-6M from memory.
KBL Price at posting:
0.2¢ Sentiment: Buy Disclosure: Held
