Ann: $2.5 Million Convertible Notes, page-7

Hi mike
I hear what your saying about senior unsecured and how they would normally rank, but as they put a condition to it, ie except if the company raises any more debt, one would assume that’s a trigger for something

Hoots
I was trying to see through the formulae and prices— forgetting the options- in the end if it’s was 1.5 m— ( and I agree based on wording— mentioning subscriber one and two with number three details to follow if they close it in a few weeks). Their cost base is effectively the max number of shares they can get on their 1.5 m purchase of the note isn’t it?