reporting of revenue, page-11

Thanks Odyssey99,

1 - I thought you were referring to that one only, my original question was how many of everything all the c. notes represent (shares and attached options.)

To quote Borrismcnorris -
“Gotta say, the note holder(s) that have converted and sold so far are a bit selfish to say the least.

In saying that, if all notes and attached options were to be converted today:

That would give us a market cap of $12M, cash at bank would be around $1.2M.

And there would be no annoying note overhang - so I wish they would all convert!” End quote.


I don't know how else to read what Borris wrote.

Working on ordinary fully paid only. (

SP at the time of B….’s post = 0.004c
$7.7M market cap. @ 0.004c = 1,926,122,932 shares
$12M market cap. @ 0.004c = 3,000,000,000 shares
Extra shares required to = $12M MC = 1,073,877,068

At 0.004c / share, MC of $12M requires 3,000,000,000 shares. It would be diluted.

So how many shares would be issued if all the notes and all the attached options were converted? B.. seem to thing there is 1.073B or have I added this up wrong?

I will apolagize, there is some one here who will discuss, thanks again.