Hi purpose, I hope the following makes sense? Cut and paste From...

Hi purpose, I hope the following makes sense?

Cut and paste From the 3Y dated 26-Mar-2018

Note the words - “Agreement to convert loan to shares, subject to share holder approval.


“Paul Duckett

To be issued to Meridian Fertilisers Pty Ltd, a director related entity, or their nominee.”

“Agreement to convert $150,000 loan to shares at a conversion price of $0.01 (conversion is on the same terms as the non-related shareholders who converted on 7 February 2018) subject to shareholder approval.”

“Agreement to convert loan to shares”

((The above was originally stated as a $150k loan converting to 15,000,000 shares. Res 5 now states $140k and 14,000,000 shares. There was a 3b that stated 1,000,000 shares were issued at 1c = $10,000.00 (to who?)))


Ray Taylor

“Agreement to convert $15,000 loan to shares at a conversion price of $0.01 (conversion is on the same terms as the non-related shareholders who converted on 7 February 2018) subject to shareholder approval.”

“Agreement to convert loan to shares”



Res. 5 & 6 - asks for shareholder approval. They, the shares have not been issued yet! All they have is an agreement! So no 3b!

Please correct me if I have missed something.