From last half yearly report:
If and only if, the SP rallies to be above the exercise price, can we expect holders to actually exercise (send the money in to buy shares) their options before the expiry date.
Sadly, HRZOB is most likely to expire worthless, as it is at present hard to imagine the SP to rally to say 12c by mid June (not impossible though). That's why it is available to purchase on open market at 3 pips currently.
HRZO, on the other hand, has better expiry date, and lower strike price, making it much more likely to be a profitable trade if purchased at 0.006 (last traded price). Share price can indeed rally to 10c to 12c range by early September 2025, implying that HRZO will be exercised by holders.
In that case, the maximum that the company will receive is 26,723,151 HRZO x 0.087 = $2,324,914.13c
Hope that helps.
(20min delay)