value of mpm military contract, page-17

Hi BRR..

The rights issue in 2010 gave three options for each share. That is the main reason it had a fairly large take up from shareholders.
At the same time there were subscription agreements with two existing shareholders and one former shareholder to subscribe for up to $1.7 million worth of shares and options on the same terms as those offered under the Rights Issue. I'm not sure how many shares were subscribed for but if they were all taken up that would be the largest bundle of options (about 510 million). Of course they would have to come up with about $7.65M to pay for them. If the shares were trading at a price to make the options worth taking up there would be a lot of VERY happy shareholders!