Replies to post #17979 on Kibush Capital Corp (fka DLCR)

[finna_make_gains]

well roe there were two 50k notes with 12% accrued interest per year. puts us close to 125k. I am kind of curious though about this clause:

The notes are convertible at a conversion price the lesser of (a) $0.25 per share, or (b)the price per share as reported on the Over-the-Counter
Bulletin Board on the conversion date.

The way I read it is: closing price on day of conversion but that cant be right, there has to be a hidden clause associated with that because they would not convert and sell at a lower price than what they converted for.

I exchanged emails with warren multiple times yesterday and I questioned what the O/S might be I threw a number out of 450 million, and he responded

OS shares not at 450M no where near

couldnt get an exact number from him though, if I had to guess it has to be close to 350 million