Paul, I think you are getting hot under the collar here. The...

Paul,

I think you are getting hot under the collar here. The crux of what you have said above is exactly what I'm arguing. But you can't see it at the moment. The principal of the options is not an argument, which is most of what you said above. It's what the price and timing means to what our management and major shareholders believe is a fair and reasonable amount in the future. The calculation of that gives us some insight into where AVB may be heading.

If the expectation was much higher then surely the terms of the options would have been much more buoyant, yes?

"At the time I bemoaned it as I thought it was way too generous and the price should have been 20c." - exactly what I'm saying.

Paul,

I sometimes think that I come across as a self opinionated, smart arse. But I don't mean too. Nor do I pretend to know as much as many here and that includes yourself. But still, despite some derision from others, I, for what ever motivation that I don't understand, feel compelled to voice my opinion.

If you convince me otherwise that my argument is at fault then I will agree with you.

Thanks for your tolerance.