Ann: Cloud Nine - R&D Project to Reduce Methane Emissions, page-41

FYI there are LRSOC 456,839,500 options outstanding (based on page 6 of this ANN): https://hotcopper.com.au/threads/ann-application-for-quotation-of-securities-lrs.6422396/

If all of these options are converted between now and 31 December 2022, then this would provide LRS with $5,48m (1.2c x 456,839,500)

The interesting part of today's ANN, is that mgt say they are going to fund the $3m research budget with:

- LRSOC conversions
- Existing cash
- Investments
- R&D Funding

LRSOC is self explanatory, so is existing cash (although it will be interesting to see how much can be covered by LRSOC conversions so we can save cash.

Not sure what they mean by 'investments'. Does anyone have anything to add here.

R&D funding seems to infer they think they will get some money from the government - although I'm not sure how much or under which program they will apply for the funding.