So you are suggesting that Volt will spend $764k per quarter...

So you are suggesting that Volt will spend $764k per quarter which is $1.52 million up to the end of year? Remember the options do not expire until 31 December 2017. On that basis VRC cannot get to the end of the year on $1 million even if they only spend the funds on salaries and admin. And as a shareholder would you be happy if the company only paid salaries for the next 6 months and completed no work on the project?

You are operating in a fantasy land. VRC has $1 million in debt, no cash and a charge over the project. The country is a basket case of political uncertainty and there is no way management can predict the share price in 6 months time. Half the stocks are still suspended, the others are down heavily and yet Volt shareholders remain blissfully unaware of the dangers ahead.