Ann: Non-Renounceable Entitlement Issue, page-118

director will also get 27,500,000 shares for convertible note & probably 13,750,000 options

thus there will be 353,835,456 million shares and 95,333,864 options exerciseable at 2 cents

since the options are in-the-money, they, less their cash proceeds, should be included in the market cap

at 3 cents, this comes to $11,568,402

however, shares & options might have to be issued for the acquisition

i would add 100,000,000 shares & 50,000,000 million options for the acquisition

at 3 cents, this is a $15,068,402 market cap