Whate Really is goig ON, page-296

I agree that exercising the options would be an easier undertaking, but, that would be expecting the single option holder to exercise options ($25M @ $0.003c = $75k) that can't be traded until if or when WFE re-list.

My apologies to the thread, I completely messed up the consolidation ratio by calculating the options price ($0.003c) up to $0.20c whereas it should of been the actual underlying securities (Fully Paid Ordinary) which will equate to $0.024c x 9 = $0.216c = consolidation ratio of 9:1.

@Mutley8 As previously posted, there was an outcry aimed at the ASX for "allegedly" treating WFE with an unfair bias as they try to re-list. So I cannot understand why you would think that the ASX would relax any rules now at this point in the process.
Although I initially agreed with your thinking the $0.20c opening "Share Price" could be waived but have since reverted back to why I believe there will be a consolidation based on WFE having to re-comply with the admission requirements of Chapters 1 & 2
1: Chapter 1, Section 1.1, Condition 12 - Options on Issue -If the entity has options on issue the exercise price for each underlying security must be at least 20 cents in cash.
2: ASX Listing Rule, Guidance Note 12, Section 8.8 - The 20 cent rule: The ASX recognises that when an entity's securities have been trading on the ASX at less than 20 cents, having to undertake a consolidation or other restructure to facilitate compliance with the 20 cent rule prior to, or in connection with, a capital raising can impose structural, timing and other impediments to the completion of a transaction that otherwise might be in the interests of an entity and its security holders. In such a case, the ASX will consider a request from the entity not to apply the 20 cent rule provided:
The price at which the entity's securities traded on the ASX over the 20 days preceding the date of the announcement of the proposed transaction, (or if the entity was already suspended at the time of the announcement, the last 20 trading days prior to its suspension) was not less than 2 cents each.
or
The issue price or sale price for securities being issued or sold as part of, or in connection with, the transaction : is not less than 2 cents.
An entity that does not meet the conditions above will not be granted relief from the 20 cent rule.

WFE EOD closing price for the 20 trading days before the "trading halt" and subsequent "suspension" fails to meet this criteria as it was below $0.02c for a period of 4 days as well as, shares issued in connection with the transaction were all below 2 cents.

cheers