Ann: Quarterly Activities and Cashflow Report , page-95

There is as I understand it one effect on options in that the ATO resets the length of time held if you convert. many here would have held the option for far longer than 1 year so it would pay them to get the 50% discount on CGT rather than convert. I think that has been the pressure as the buyer looks and says my opportunity cost is liquidity and my time frame is 5 to 7 days so I want a risk or a discount as the heads trade far more.

I am not sure if you can use an efficient market view on small speculative stocks - I think its the supply and demand theory. The Speculative area is either IMO oversold or overbought - never really reflective of fair value as it is driven largely IMO by sentiment and the general climate for risk.

I dont agree that you can look to drops in Greece as a reflective of MHM - I think that news drives these shares and you cannot keep spinning the same story. The story has got old and the company has consistently looked to finding new investors - bad decision IMO as new investors need more convincing hence why supporters club on MHM took so much time being convinced that the story was not happening as planned. So the company should have spent more time convincing IMO existing shareholders of progress and not at times always referring to getting new shareholders and overseas shareholders.

There is money for Speculative shares but the story needs to keep unfolding and the news flow must be good IMO.