One argument is that you're getting a share plus an option at that price. Depends if you think the 25c option is worth more than 3c (plus no brokerage).
The balance sheet looks okay, but I haven't looked at the income yet. Don't know if I'll buy more or sell the lot as a big % loss, but if I do buy I'll want the options (if I dont expect it to go above 25c, I should sell it all now)
Ann: Letter to Shareholders for Share Purchase Plan, page-7
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