Agree,15 million 0,042 options were exercises on june 29. As...

Agree,

15 million 0,042 options were exercises on june 29.
As there were only some 17 millions 0,042 options remaining and Guido Arnout hold 10 million of them.

A 3Y will come.
It could come later today if they take only 2 days to send the 3Y to the ASX.
But a director has 5 working days to send this 3Y notice, so next Wednesday is the limit.

This 3Y will reveal the amount of shares GA sold - or will sell next week - to pay the exercise cost.
It could be anything from 0 share sold to 6 million shares sold.

We could reduce this to 3 scenarios :

1 - GA sells no shares and agrees to pay $ 420,000 with his own money to exercise 10 million option at 0,04 (at a price of 0,07). He will then hold 14,2 millions fully paid shares in the company.
=> ultra bullish news

2 - GA Sells the 4,2 million shares at 0,07 and add $ 126,000 of own money to exercise his 10 million options. he will then hold 10 million shares in the company
=> very positive, as even if he sold some, it will be the first time that GA invests his own cash in the company

3 - GA keeps 4 million and sells 6 million shares at 0,07 to pay the $ 420,000 cost to exercise 10 million. He will own 8,2 million fullly paid shares in the company.
=> Neutral - The situation remain the same : GA has still no skin in the game, albeit with diminished amount of share and options.

There is also a very negative scenario where GA sold the all 10 millions shares to extract some cash from 4DS shareholders.
In that case the price will probably drop to 0,065 in this negative environment.
At an average price of 0,065, GA will make $ 650,000. Less exercise cost of $ 420,000 = $230,000 net cash received.
He will still hold 4,2 million shares and 7.38 million 2024 shares. Could be tempting ...

Best Scenario
If Guido objective is to hold 1% of the dilluted (1,576,675,442 shares) when takeover comes,
he needs to hold only 8.387 million fully paid shares (1% when added with his 7.38 million 2024 options).

In that case, he needs to add only 4,156,754 Shares to what he already owns.
For that he would need to exercise 8 millions shares and pay something.
If he pay 65,000 AUD with his own money, he would only need to sell 3.82 million shares at 0,071 to pay exercise costs.

In That Scenario , Guido agree to let 2 million 0,042options unexercised.
And we know that 2,775,000 options at 0,042 options have still not been exercised.