What stock has 396 mil shares on issue, with 40 million options exercisable at 1 cents, and a further 150 million options exercisable at 1.5 cents and no tangible assets / resources and $2.3 million in the bank
This is it..... SBL
Now lets add that all up after all the oppies which are already "WELL IN THE MONEY" are converted to fully paid ORD's.
396 + 40 + 150 = 586 million shares (with exercise of oppies to shares)
I hope these boys spend the company money wisley, because as a shareholder I would NOT like to be asked to contribute to a rights issue to provide for further working capital ESPECIALLY when it is so apparent they have looked after themselves with the issue / proposed issue of this very generous options package.
Three noses in the trough already, - I fear there be little left for us shareholders to drink.
SBL Price at posting:
0.0¢ Sentiment: None Disclosure: Held
