Ann: Full Year Statutory Accounts, page-2

Some very interesting stuff in here! and i recommend the Report as obligatory study material for anyone who posts here.

In scanning there are a couple of highlights to note in the current debates about value and dilution.

no 1 - these guys turned in a profit for FY21 of USD5 million and have Net Assets on 30 June of USD18.4m FULL STOP. think about that.

No 2 - the number of shares around and their dilutative impact.

On 30 June there were 4.7bn shares, net assets of 18.4m and a NAV per share of 0.0039
assuming the 1.3992bn are exercised that raises USD5m and the fully diluted NAV is 0.0038, an impact of 2.1%

the impact of a 1c share price movement is currently is 7.7%, so the dilution is fairly negligible in terms of assets.

the impact is felt by way of there being a high volume of the options lapsing in Sep and Nov 21, so there is plenty of churn and that is obviously impacting the price. that will level off post 30 November and the next set expire in April 2023, so things will settle from end of November.

So, between generating a profit, having having assets of 18.4m, plus exercises of 2.5m, plus growing production in Q1 FY22 and beyond and with the dilution impact of 2% on conversion, I reckon we have a strong basis for support at 0.012 and expect to consolidate ands grow from here.

						Net Assets		NAV PS
Shares in issue					No	$
30-Jun	Note 25				4,678,512,519	18,356,271		0.0039
Options
	no	P	expiry	status
Jul-21	12,500,000	0.045	15/07/2021	expired
	846,666,665	0.003	30/09/2021	exercised	846,666,665	2,540,000
	150,000,000	0.003	30/11/2021	assume all exercised	150,000,000	450,000
placement related - Dirs repo	300,000,000	0.005	30/04/2023		300,000,000	1,500,000
placement related - Dirs repo	95,000,000	0.005	20/10/2023		95,000,000	475,000
					1,391,666,665	4,965,000
Fully diluted					6,070,179,184	23,321,271		0.0038	-2.1%

Plenty more in the report to read yet.

GLTA

Wazz