Yes strange things happen in the market.Re: Note holders as per...

Yes strange things happen in the market.

Re: Note holders as per Notice of AGM and Explanatory Memorandum and Proxy Form, item 7e

At issue;

578 note holders x $2,500 per note = $1,445,000.00 with an exercise price of 9.5 cents with an interest rate of 12%.

Then allow it to capitalise.

Today

Note holders are owed (Company debt to note holders) $3,259,366.00 This means unless paid out as set out in item 7.e. 217,291,129 shares @ 0.015

or let the debt capitalise a further $391,123,920.00 over then next year.

So these note holders have made over a 100% with capitalised interest and now want shareholders to discount their exercise price by 8 cents per share while other shareholders and previous note holders have taken substantial financial hits.

Previous note holders converted at 4.8 cents in the best interest of the company to reduce the company debt and outgoings, now shareholders are expected to vote and approve to discount the exercise price from 9.5 cents a share to 1.5 cents a share. 

Yes the company might have a fantastic asset with tremendous opportunity according to rumours, however the financial management to date speaks for itself. Not my opinion just the facts.

Please read the document for yourself, this is only my understanding of it. If I am in inaccurate in any way please correct me.