Ann: Preliminary $50-70m Sales Forecast FY2020, page-24

Add in the rest. There are 3 million for the CEO, 25 million for the sales team and another 10.55 million outstanding ( see the announcement of 11/11)

I make that 6.8% of the 564.4 million shares on issue.

I do not object to options if the terms are right, though it looks like it is an ongoing part of staff remuneration so further dilution down the line.

Note the CEO has to achieve sales of $120 million over FY 20 and FY21 combined. The middle of the company forecast is $60 million for FY 20 and if he got only the same for FY21 he is there. The exercise share price is $1.25 which we might not get in that case, so he probably needs to do better to get the share price up to benefit.

He has a low revenue hurdle, but a higher exercise share price, while the sales team has a high revenue target, but a lower exercise share price. Probably the right structure to incentivise the CEO by the share price and the sales staff by revenue.