Ann: Change of Director's Interest Notice , page-39

From the 3B with the 8.5m option issue .

Purpose of the issue ...

4,000,000 options issued in lieu of a
facilitation fee as approved by shareholders
on 2 March 2011
... ( These were for facilitating the CR in Dec. )

2,000,000 placement options for the
identification and due diligence in relation
to potential new business acquisitions .
... ( According to the 3b these were paid for ie: 1c each and issued to 708's )


2,500,000 options issued in lieu of consulting fees .


Now ( with the entire option issue ) they can effectively raise cash without shareholder approval in January . That is when the 12 month term expires for the employment of the two consultants . ( They are being paid cash to find a project as far as I can tell ) .

The company will flounder without a project , so in reality the options are just about as good a punt as the heads .

Just my take on it and ready to learn more .