But it isnt just 20% if $1.20 is capitalised interest... its...

But it isnt just 20% if $1.20 is capitalised interest... its also another ~15% loan set up + 10% VWAP discount (we aren't sure if there is a floor either).

Also I am not sure it is Unsecured... 

I have emailed the company asking for clarity on the financing... not expecting a reply.

1. With the Convertible notes has the interest payment been capitalized into the USD$1.20 price (ie. repayment actually USD$6 mil at the end of the term)
2. With section vii. of appendix 2 - Conversion Pricing is this to be based as the higher of the two at time of conversion or the lower of the two? ie. has a floor conversion price been set?

We are already 12 days into the 90 day standstill period.... times ticking.