Ann: Appendix 3B, page-2

Hi Guys

From an economic perspective, why would you convert your options through the company at today's current shareprice.

Carn't figure that one out, as the options holder / converter is out of pocket to a minimum of 70% loss.

Have seen a few 3B for options go through now were the option holder is throwing away thousands of dollars, when they don't have to.

Anyone thinking of converting your options do the math.

Look at the figures from today's 3B :-


Convert 24,647 options @0.20 = $4,949


Sell 24,647 options on market for 0.145 = $3,573 - (today's close was 0.160)


Buy 24,647 shares on market for 0.225 = $5,095 - (todays close was 0.225)


Buying shares - debit 5,095

Selling options - credit 3,573

Net difference - 1,522 to add


Convert Options through company $4949.00

Convert options on market $1522.00


Loss of $3,427.00 to convert options through the company.


That's a good chunk of money, that didn't have to be spent to acheive the same results.


Go figure

Tradealot