Ann: Appendix 3B, page-4

My error - 16,000,000 shares were issued after conversion of 0.5c options.

The promoters of this company are tempting others to pay 1.6c when 173,884,210 shares were issued at 0.6c six weeks ago and if you add the 16,000,000 new 0.5c shares issued only a few days ago you have 189,884,210 shares ready to be offloaded for a huge huge profit or free carry trade.

If the VWAP stays at 1.6c for another 15 days another 25,500,000 options at 0.5c can be exercised bringing the total of ultra cheap shares to 215,384,210 , around $2.2m profit for the promoters if they are all sold at 1.6c

Considering their cash position is still pathetic and under $1m and the outstanding 25,500,000 options would only bring in a paltry $127,500 its most likely another cheap raising is coming by May .