no excuse now merger, page-7

CF, thanks for your thoughts. Around the same as me on the share for share ratio but I will add that issuing options for options might be a way of at least accessing cash in the next 9 months. On a 1:1 option basis with a 1.5c exercise price IMO given the time to expiry (Sept 12) and the current PDY SP at 1c there is an incentive for the new board to get the SP up and the options in the money and exercised thus raising around $1.6M. Better than giving stock away for free... Only my opinion though...