reducing shareholder dilution, page-54

Izzy,

As I said. Not technically au fait.
I'll take it in good faith then. No overruns.
How's the rest of my Maths?

2% for $12m. That's $6m per 1%.

Another 3% then gets you how much? Exactly 18m oh what a coincidence that's almost exactly the same amount as the subsequent cap raising....for how much? 20 something %. Also a 5% royalty would have constrained things to Stage 1 and 2. Future developments and prospects out of the equation. BUt a shareholder gets a peice of ALL future profits.

So how am I doing?