Let's say I buy 50,000 shares at 40c. Outlay = $20k Then I get 50,000 at 10c. Total outlay = $25K Average price = 0.25c
Then I get 16,666 free options, exercisable at 10c Then I get another 16,666 secondary options exercisable at 12c if I exercise the first lot during the specified period.
That means if I sell at 30c, I make $5k + $3,332 + $3k = $11,332 from initial outlay of $25k = 45%
If price is 40c, I make $15k + $5k + $4,666 = $24,666 from initial outlay of $25k = 99%!
Please feel free to correct my calculations.
The buy depth looks good and once you factor in the potential of their assets, the SP should really go higher.
MFE Price at posting:
21.3¢ Sentiment: Hold Disclosure: Held