Despite our spelling challenged friend's gentle and ineffective...

Despite our spelling challenged friend's gentle and ineffective sledging, there is indeed much to learn from comparing this new Top 20 List for NRZO Options with the previous NRZ Top 20. The latest NRZ I could locate was Feb 2023. So shall we proceed?
One new free Option here was given for every new share bought at 2.5 cents. So to make this new NRZO Top 20 list you'd need to spend $25,000 or more to buy 1,000,000 new shares or more in the Offer.
None of the Directors appeared to have thought it necessary to spend the minimum $25,000 to show their support out there and up front, leading by example, that sort of thing. Of course there could be lots of reasons for this. Maybe Directors' family members are on the list with different surnames and the connection isn't obvious. We know Directors' families are heavily involved , because we were told previously that Directors and their families own [owned?] about 20% of the Company, Correct?
Or maybe the Directors just didn't want to crowd out existing shareholders from participating? Yeah, nah, that isn't it. The offer closed undersubscribed so plenty of room for everybody..
DL E&C didn't make the minimum spend. Most likely because they were prohibited by the Terms of the Prospectus. Aust and NZ only.
In light of that, it is surprising that China New Energy Group dropped $34,000 into the raise for 1,320,000 new shares. How did that happen? Only AISC would know.
So who are all these fresh new faces not seen before? Well, when there is a shortfall like this, Mahe 'reaches out' to sophs and invites their participation. The plan here is to pick up unwanted shares 'cheap' at 2.5 cents, wait for the pump and sell higher. Generally keeping the free Options for later in case a miracle occurs. Effectively they act just like the much maligned EECP. So some on the list are here for just a short time and hopefully a good time.
That of course would not apply to the Super Funds on the list, oh dear me no. The ATO takes a dim view of speculation activity in SMSFs. Super is supposed to be a long term investment for retirement, oh yes, indeed it is Your new SMSF investors are not speculators and are here for the long term. Of course.
The largest holder of new Options on the list is Mahe, the broker. I think it fair to say that they are not long term holders of NRZ shares or options and will divest ASAP.
I expect I've raised a few pertinent talking points for vigorous discussion here. I'm off on a ski* holiday tomorrow so please understand that I won't be able to respond to your witty comments for a few weeks. SKI = Spending the Kids' Inheritance. Do carry on.