Ann: Significantly Oversubscribed Placement Commitments $3.2m, page-42

Truth of the Ausie spec market.

MOST SPEC OPTIONS EXPIRES WORTHLESS AS COMPANY WILL KEEP NEEDING THE CASH AND SO KEEP ISSUING NEW OPTIONS OR WHEN TIME COMES CLOSER MAJOR HOLDERS WILL PUT THE TIGHT LID ON SP SO THAT NO FURTHER DILUTION BY OPTIONS EXPIRY & THEY GET OPPORTUNITY TO GET MORE SHARES IN CHEAP BY MEANS OF CR.
HENCE; REALITY IS THAT 9 OUT OF 10 TIME SPEC OPTIONS EXPIRES WITHOUT ANY CONVERSION AND SO RISK IS ALWAYS VERY HIGH WHEN INVESTING IN OPTIONS.

cheers
J