The new option issue if approved have an exercise price of 25c...

The new option issue if approved have an exercise price of 25c in Sep 2014. Not a hope in hell that anyone with half a brain would subscribe to this especially noting the fully paids are selling at 3c. The only scenario where you could make more money subscribing to the option issue in lieu of buying shares on market is if the share price trades above 40c. Risk/Reward heavily skewed to the risk side. If FWL want's to make the option issue a success then they would need to amend the exercise price to 10-15c area.