Ann: Update on Exercise Price of Options, page-9

Hi Nunga, Not sure why you needed to tag me in,

This is my view on the options, (not investment advice)

FGR currently has 7-8 tonnes of graphene sold in sales or purchase agreements, these sales have been achieved with 4 companies, Planartech, Australian Leasure Living, NewGen and SteelBlue.
The company has indicated that 18 tonnes of graphene are required to reach BE, although I believe this can be lower if they are selling more PureGraph 5 and 10 as they are more expensive to PG20.

FGR has over 50 companies currently testing its graphene, one company in particular, is a
Multi-national polymer and materials manufacturer, based in Europe that has annual sales of US $1.5bil, I believe the company recently advised they have now dispatched the 4th batch of samples for testing, as you would be aware, FGR are seeing significant advancements with polymers.

We are also well advanced in developments of natural rubber (4 months into a project that is expect to run for 6-12 months), where the company has indicated they are looking at using rubber for mining screens.

Based on the current sales agreements, FGR is just under 50% of reaching its first goal of reaching BE,

I have heard other investors suggest when FGR reaches BE, the company would justify a MC of $200-300mil.

Based on the Current Share on Issue, to reach a $200mil MC would result in the SP increasing by 3x = 37c per share,
If the market values FGR at $300mil, this would result in SP of 57c.

This would mean the options could be worth 12 - 32 cents per option within the next 12 months.
If the company fails to achieve its goals, the options will expire with no value.

When buying options or shares, it is up to the investor to determine the risk/reward that they are willing to take.

I hold both Shares and options, with a personal view to buy shares rather than options due to the increased risk.

I hope this helps you out.