Ann: EGM Company Overview-CL8.AX, page-56

Basically, you can purchase an option to buy a share at a set price. So with CL8 you can buy an option for .005 cents instead of paying .019 for a share. It will cost an additional .02 cents to convert your option to a share however. Currently the cl8 options are 'not in the money', because you can pay .o18 for a share directly, instead of .025 total (.005 + .02) for an option and conversion. If you bought an option today for .005 and then next week or month the share price went to .03 than you could pay the conversion and you've got your .03 share for .025. The options can give you leverage as the share price moves up the options move up too at a proportional rate. So say you bought an option today for .005 and the share price (I'll use .02 as a share price to make it easy) moves from .02 to .03 a 50% gain, the options will follow at share price minus conversion, so your .005 option will now be worth .01 a 100% gain. Option also will expire at a set date, I believe cl8 is 30/4/2017 if the option you bought is not converted by then it becomes completely worthless.

Hope that make some sense! Also google it or investopedia etc.