Ann: Change in substantial holding , page-13

That's right Webral - it was a beautful set up and we practically all missed it. It worries me when I miss the set ups and I didn't even know this one existed. Anyway, if anyone notice thsee types again, keep it to yourselves or just tell me. :)

Turbo, once you drag the ex date for the options forward to today, given the $2.9m cash injection from the 246m options, you have a company at 6c with an undil. market cap of $40m with $4m in cash. The issue here is that ADO may perhaps drag in a soph investor as per EGM resolution and then issue a SPP to set up the options which will cause further dilution. I am unsure whether they can complete a rights issue and then launch a SPP within 12 months. I think they can.

Investors have to decide if this company is worth it in the long term. IMO, you either hold and hope to sell on an update or be aware that further dilution amy be coming IMO before the options are exercised. IMO, this company may have around 1b shares on issue within 12 months unless some fundamental miracle eventuates.

I speculate that a SPP is ineviteable but it may spike at some point pre -SPP given what is behind it.

GL.