Ann: Relinquishment of Share Subscription Agreements, page-31

Could someone please explain the logic behind the fund raising of 3 million?

Only 1.34 million was needed to pay out Lind and SBC

If Lind and SBC had bought the shares at .007 that would only be 78 million shares

Yet 3 million has been raised at .017 / share resulting in the issue of approximately 176 million shares

These shares come with a 1 for 2 free options expiring in 3 years with a strike price of .032

So after 3 years if Lind and SBC take up the options we will have added in total

528,000,000 to our share registry for the sum of 11,264,000

Why not let Lind and SBC play with the 78 million shares?

Instead we have possibly added after 3 years 500,000,000 shares to the registry which is 50% of what we have now for the sum of approximately 14,000,000