Had another look at the Appendix 3 G highlighting the 3,000,000 2.5 cent options being issued. Seems I was incorrect in my reading of this. They were actually a ' New ' issued only , and HAVEN'T been converted - so I apologize for my error in interpretation . It would appear though , that it is a GOOD thing when service providers are accepting options over FUTURE shares at 2.5 cents conversion for services provided right NOW worth $24,000.....*The +securities being issued are: = ☒ Additional +securities in an existingunquoted class that is already recordedby ASX ("existing class")Options issued in consideration for corporateservices provided to the Company with adeemed total value of $24,000.In going back over these various 2 A's , 3 G's and section 708's , there is one that raises particular interest for me . Apart from the fact that 3 out of the 5 last appendices 2 A's since 31st August were announced ' Prior ' to the announcement of the ' Entitlements Options Offer Prospectus ' I don't think it is any mistake that whoever was the ' owner of the 7,099,358 2.5 cent with expiry: 02/05/21 decided to convert them effectively as per the appendix 2 A issued on 8th September 2020 ...... 1 day after the Options Entitlement Prospectus was announced to the Market on 7th September.So that's a tidy 1,774,839 ' New ' shares they will be entitled to bringing their new total to 8,874,197.....and at a total cost to convert the 7,099,358 shares of $177,483.95 PLUS the $1774.84 to pay their .001 cent installment on the 1,774,839 2.6 cent shares. So looking at it from one angle , that's effectively a total of $179,258.79 or 10.1 cents being paid per share just for the right to obtain a further 25 % increase in their holding balance ' NOW ' , and to obviously avoid the potential dilution of their future holdings ' LATER 'Of course looking at it from a different angle , we could say that obviously they intend to pay their 2.5 cents in the future to convert these additional 1,774,839 shares .....so their total amount paid for their ' Future ' total holding of 8,874,197 shares ( assuming their original options were granted FREE ) , would be $223,629.77 or 2.52 cents per share......
And that to me folk's is what I call CONFIDENCE in the issue , CONFIDENCE in the outlook , and CONFIDENCE in the holders intent to maintain their holding balance at what amounts to a higher cost NOW for the average price LATER when they convert these ' Pre-Paid ' shares in the future.
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