Ann: Dense Media Bulk Trial Results, page-24

@jsvik, your post that you have now withdrawn was slightly understating what JB and associates have invested. While this investment is primarily through paying the exercise price on options, you still need to pay the cash for the options. Given the shares held now exceeds the totals noted below, the money to make these investments has not come from selling down fully paid ord's to make payment for the options. In at least one instance JB did sell some of his options to raise the cash to pay for other options. The transactions below account for the bulk of the 6.6m shares currently owned by Aradia Ventures Pty Ltd.

Sometime before 13 Nov 2008 JB and his related entity Aradia Ventures Pty Ltd owned 1,030,000 shares and various options. The cost price of these is unclear.

On 25Jul2011 the Appendix 3Y announcement confirms the acquisition of 1,000,000 shares for $200k (and some 35c options were sold).

On the 20th Nov 2012 "Change of Director's Interest Notice" advises JB acquired 2,000,000 shares for $400k (by exercising 20c options).

On 4 June 2019 the announcement "Change of Directors Interest Notice x3" Notes that JB and related entities spent $15k*4 to buy four sets of 85,715 shares for a total $60k payment.

On 27 Oct 2020 the announcement "Change of Directors Interest Notice x3" Notes that JB exercised 1,000,000 options at $0.35/share. The dollar value isn't stated but this would have been a $350k payment.

On 23 Nov 2021 the announcement "Change of Directors Interest Notice - J Brown" Notes the payment of $200k for the exercise of 1,000,000 options.

$200+$400+$60k+$350+$200=$1.21m