watso is very happy to be corrected, but a quick glance through the report, and watso has not noticed any mention about the previously announced freebies. the freebies were one share for every 8 consolidated shares (which watso previously described as being silly) and three free options for every 5 shares.
on the basis that watso is correct, then the company has also decided that was a silly idea, as in the end, the price of the shares and options would gravitate towards a price (lower), to reflect the freebies, which would mean a lower issue price for the 20m shares that they are now planning to issue at some point in time. not much chance of present option holders converting their options, and providing a source of funds. watso vaguely recalls reading that the freebies would provide an attractive bait for existing option holders to exercise
apologies if watso is wrong, or if someone else has mentioned this matter
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