CAP Raising Application, page-13

The July 2017 Option basically capped the share price @ A$0.075

So much shares post CR that warrants a capital consolidation 10:1 ...

Existing holders have no choice but to take on the CR, averaging down for a chance to recover the money... G'luck



The Capital Raising Proposal is being undertaken at an issue price of A$0.05 per Share, a 58% discount to the last traded price of Atlas and significantly lower than Atlas has ever traded. All investors in the Capital Raising Proposal will also receive a free attaching New Option for every New Share subscribed (exercisable at A$0.075 on or before 30 June 2017) in the event the Company issues Placement Shares or SPO Shares.

This structure maximises the leverage that investors in the Capital Raising Proposal have to any future success of Atlas and to any future improvements in market conditions.