Hmmmm - Not sure where you are getting the one free share for...

Hmmmm - Not sure where you are getting the one free share for every three shares from. That is not how I read the prospectus.

What you do get, is one option for every share you buy.

So, using your $10k, you do get 303,030 shares and you also get 303,030 options.

The options will allow you to purchase one ordinary share at an exercise price of 5 cents. The options expire on 30 May 2026.

The options will be listed and would have some value if you wished to sell the options. I would guess they could trade around 0.2 cents maybe up to 0.5 cents with the share price in the low 3 cents. There are different methodologies to technically value options, but it comes back to what the market will pay.

The simple way that I look at the options, is that it doubles the upside after 5 cents. What I mean by this, is that if the share price goes above 5 cents, then for each 1 cent increase, the value of your shares and your options increase by 2 cents, being 1 cent for each of the share and the option.

If the share price went from 3.3 cents to 10 cents, then you make 11.7 cents, being 6.7 cents on the share (10 cents less 3.3. cents) and 5 cents on the option (10 cents less exercise price). The down side risk of the option, is that if you continue to hold the option until it expires on 30 May 2026 and the share price is less than 5 cents, then the option will have no value.

I would encourage all shareholders who held shares on 19 April 2024 to read the prospectus and if you don't understand, to ask questions. Whilst I am happy to provide my thoughts (not advice) on how I read the prospectus, it is no substitute for professional advice from your financial adviser, accountant etc.