Ann: Half Yearly Report and Accounts, page-11

By my calculations there are 25M options at 5 cents due to expire in April.

These (or most of them) will be exercised raising about $1.25M. Not a lot but enough for a couple of months.

Ironically, this may put some pressure on the heads as the option holders may sell some of their shares to pay for the option conversion etc?.

No doubt they are hoping that Kachi will deliver good results before a cap raising in the future. Could be a double edged sword. PNN tried to do the same but it backfired when their results were lower than expected.