No sense buying much over 2c, page-24

The Prospectus is not being issued until mid February & then closing mid March hence why the draft on release of the backdoor in early December has indicative pro-forma on the amount to be raised & the price at which capital will be raised. The important part for Norwood was to negotiate the percentage ownership of the new entity price doesn't matter in that regard it's about how the ownership stands. The transaction is not being paid in cash it's about the equity of the new business - they stand with 52% of the company on relisting - 74% on issue of performance shares & 81% on exercise of options. They could also raise more the only reason it's at $3.75M is again only pro-forma based on the minimum costs for re compliance & listing rules. There wont be a lot of free float once rolled over & business moves forward increasing the ownership.