a cure for hep c, aids, the flu and dengue..., page-59

Thanks for the clarification Tawny. No doubt the potential is huge and just wanted some perspective / context on any such numbers. Even 10% of $2.6 bil is 10 times current market cap of the entire company as it stands so the potential for 100x capital growth upon sucess is clearly there. Risk is still huge also.

I have previous noted your comments on the strategy of getting option holders to convert early. I see your logic but I suggest that the ramifications on option holders need to be thought about. Given the 13 month expiry timeframe on the options, unless we see massive price increases on the heads in coming months the options look like they are heavily overpriced and that value could easily be destroyed if your thoughts come to fruition.

I don't mean to be rude but can I enquiry into your logic re voluntarily converting your options early ? You cough up 10c per share to convert and you end up with something that is currently worth roughly 10c. So by converting now you are effectively throwing away the leverage built into the options and thus the 4c premium currently paid for options. I'm baffled as to why you would do this.

If you want heads rather than options then you could sell you options on market for 4c and buy the same number of heads for 10c. This is effectively costing you 6c per share to switch over. It would cost you 10c per share to convert your options but either way you end up with the same number of shares at the end. If you convert now you are giving a 4c per share / option donation to the market.

I'm all in favour of equitable capital raisings as you suggest, I'm just never in favour of a small number of shareholders donating cash into the pool without anything in return. I believe if option holders convert now that is exactly what they are doing.

If the company does a capital raising which requires option holders to convert to participate then the current 4c premium that the options are trading at is destroyed. If you believe what you have suggested is likely to happen then I'd be very worried that me entire investment into options could effectively be wiped out overnight. This is why I think that BITO is dramatically overpriced.

I may be missing your point Tawny. If so sorry. Just wanting to understand how such a strategy would be good for options holders.