No you are the one who is incorrect.
The issue terms are:
15,000,000 of the options to be exercised at $0.01 per option.20,000,000 of the options to be exercised at $0.015 per option.15,000,000 of the options to be exercised at $0.02 per option.
This is taken from the ASX release.
That is options at 1 cent, 1.5 cents and 2 cents.
Not sure how you are doing your math but maybe you aren't trying too hard .
Ann: Application for quotation of securities - PIL, page-17
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