Hi Custard,Im sure they'd know exactly what we know. That...

Hi Custard,

Im sure they'd know exactly what we know. That when Biotron have the money from the options they will tell the market their new strategic plan. This no doubt will create hype and a pump. Biotron also made mention that when they have the money from the options they will aim to go to phase 3 with a partner. Who knows, maybe they already have this potential partner but it is dependent on the options getting over the line.

All this info was provided in the options expiry notice.

For Gleneagle, underwriting the options is a no brainer. At worst they get the premium and pay $5m for 100m shares between 4-5c which they wont have to hold long to offload over 5c. At best, they get their premium plus get to pay 5c for shares that are worth more. Any big broker would jump at underwriting in the money options like this.

I imagine they'll end up picking up around 50m shares (that they'll offload as soon as an announcement comes out) from people who bought small parcels at high prices. Although, even if someone paid in the 20c range for BITOB, if they want to stay invested in BIT it is cheaper for them to convert if its in the money than purchase on market.

Cheers