Ann: Rights Issue Update , page-2

The issue of shares at .004cents also carry a free option of 1 option for every four shares applied for.

Then as i understand, in October, holders will receive another 1 option for every 2 shares held at that time.

This means, and correct me if I am wrong, that for every 100,000 shares applied for, if still held in October will be holding 75,000 options (25,000 now+50,000 later)

I calculate that those applying are really paying .003cents for the shares (allowing for the value of the free options)

So it's not a bad punt imho!

Raving1