Ann: Despatch of Entitlement Offer Document, page-4

I am an investor relatively new to options having never been exposed to these with any shares that I hold. Can someone so kindly explain what it is that needs to be done? I get that I have the right to purchase at 0.001c 1 for 5 basis.

For example if I hold 1M I can partake 200,000 options at .001c. Costing me $200. If and when I then convert them to fully paid shares at 1c before July 2022 which will cost me a further $2,000 with a total cost of $2,200 (Averaging 0.011c per share).

If AVW's SP is worth 5c in that time then I make an immediate paper profit 0.039c per share?

Or have I completely got all this wrong?

Cheers