If the C.R. was at $0.06 (6 cents), then 40 million shares x $ 0.06 = $2,400,000.
Then 20 million options exercisable @ $0.02 = $400,000.
Total assuming the options are exercised = $2,800,000.
The current C.R. @ $0.055 (5.5cents) = $2,200,000.
Twenty million Options exercisable @ $0.05 = $1,000,000.
Again we can assume that the options are going to exercised.
The total is $ 3,200,000 if my maths are correct.
So it would seem to me that the C.R. was a lot better than what you would have done.
Yes fees have to come off all this.
Ann: HEAVILY OVERSUBSCRIBED PLACEMENT TO FAST TRACK DRILLING, page-11
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