free options worth 5.2 cps, page-27

re: going down.... True but the cash flows have been pretty consistent for a number of quarters now. Obviously their vetting is better as revenues have halved as they stop bad orders before they hit, well at least as many as they can do.

Your point about issuing the options while the stock is hot has absolutely no meaning what so ever. They are exactly what they say they are options at 10 cps in June 2006. Unless the share price is higher than 10 cents in June 2006 the options are not worth anything.

It is not a capital raising until that date.