Ann: Change of Director's Interest Notice - K Wallace, page-16

The options are really important now.

By my calculations, they will have around $1 cash left in this quarterly soon to be published. Add another $1m from the R&D rebate, they have enough cash for the next quarter with a tiny bit left.

From there they really need either income, or options excersised. The closer to 30c the heads trade, the less likely people are to convert... all its going to do is put even more downward pressure on the SP as they get are issued and potentially sold into the market.

If it drops below 32c I would not be surprised to see it down to half that in the next 6 months as they will likely need to raise cash and trying to find it will be a challenge in this market I suspect.