10 cents here we come, page-21

Pretty much correct jazzad68 but the only thing wrong is that if sydney exercises his rights, he has the option to purchase 5m shares at 1.5c which will cost him an extra $75,000.

To exercise his rights, he has to fill out a form and send it to the company along with his cheque of $75,000...

The $10,000 he has put in already only gives him the RIGHT to buy shares at 1.5c, not an obligation... So he still needs to put up $75k if he wants to exercise the whole lot, or he can exercise some and sell some on market...

If the shares are less than 1.5c by expiry then he will lose the $10k because nobody in their right mind would exercise options at 1.5c when they can buy cheaper on market...

With me, I hold 3m shares which I purchased for 0.001 on the day of the first announcement for $3k