The other interesting aspect of this option tranche is that Jeff & Howard put in $50k combined into the original cap raise.That would entitle them to exercise options in this tranche if they so desire.(See asx ann from 21/12/18 ... https://www.asx.com.au/asxpdf/20181221/pdf/441g43j6vqdgrs.pdf )This announcement also says there were no underwriting agreements in place (see p2).(I'm not sure re underwriting rules post raise, but they did have to get shareholder approval at a later date for the 6 & 9 month oppies. Then they recently reached a shortfall underwriting agreement).Furthermore - we're now 6 weeks away from the CNs hitting their conversion date - also at 0.011. So I'm wondering if the exercising/not exercising of these options by Jeff, might give a slight hint as to whether the CNs convert or not.Whilst not much appears to be happening, maybe it is?
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