asx waiver

So the announcement is out with details of what may now be offered. This is my take, I welcome it being pulled to shreds:

"The issue price of the Placement Shares cannot be set any lower than 80% of the lowest average market price of the Company's shares during any period of 5 consecutive days on which sales of the Company's shares were recorded during the period between 14 June 2012 and 14 September 2012."

My very rough observation puts that average at 0.014 (and I consider that generous, it'll probably be south of that). 80% of 0.014 therefore equals 0.0112 (hey it'll be 80%.....). $10,000,000 divided by 0.0112 equals 892,857,142 new shares.

What a great result!! Yes I'm kidding.