100,000 shares bidding @ $1.60, page-13

This company is all smoke and mirrors.

Biggest con by the Director's is the manner of conversion of their free options.

The mug punter thinks that because the Directors have converted their options it is a great statement of faith in the company.

Fact is they raised the funds to convert the options by selling physical stock - eg, sell 1 mio shares @ $1.50 and convert 2 mio options @ 75c.

Net result is they increase their holding at no cash outlay. Very sneaky way of raising extra capital for their company without the average mug punter realising it.

Considering the Directors dished themselves out a nice chunk of FPO's and options when they floated the company they are making out like bandits.

Yet in 3 1/2 years they are still managing to get away with "trust me" the results will be great.