just speculating

in the past, watso called (and prior to any company announcment) the following

gda to make a 2 for 1 issue at 1c. in the end, the company had a 1 for 1 issue at 1c, but with may options convertible at 1c - which sort of was a 2 for 1 issue at 1c (but on a staggered basis)

on the mxr thread, watso called a placement of 24 million shares (not sure if watso called a price) under the 15% rule - well, the company did make a placement, but not for 24m shares, but , no doubt, would have, if they could have.

watso also called that the funds raised from the last 1 for 1 issue, would run out by the end of march- well before the conversion of the may options - guess what - but watso was correct

this is watso's call for the next issue in gda - and probably into june sometime (after some foolish punters toss in their 1c to exercise the current may options).

2 for one issue at .5c!!!! , as well as a "share purchase plan" to all those lucky holders who want to increase there holdings to a marketable parcel...will they include a free option??? hard to say.

watso - always on the ball with his hard hitting, no nonsense commentary. a shame that watso does not apply the same logic to his own dogs - eg adi, mae - but then again, watso has only small positions in them - and watso cannot be bothered anymore with his major holdings (rsg , kcn)
mmm - better find a signature