Ann: Investor Presentation, page-74

I personally think there will be replacement oppies provided (at a small issue cost) if they don't get ITM so it's a double hedged bet for a small outlay.

The Flash vendors are significant holders and were issued 50m MTMO as part of the transaction. Management also hold a fair few. They won't want to be diluted through this raise without the option to regain their holding % at a later date when we're well above $1.

Think about the timing of the issue of tranche 1 and 2 placement shares. They issue the tranche 1 to friendlies who would support issue of replacement oppies at the meeting in November. Tranche 2 is unable to vote as their shares arw being approved at said meeting.

I'm expecting to see this confirmed in a separate release or in the NOM.

Could also very well be wrong but not much of an $outlay for huge reward.