but therein lies the catch 22 position. the consolidation will...

but therein lies the catch 22 position. the consolidation will be no good for shareholders, but at the end of the day, they simply have no choice, as the bait of a few free options will carry the day. to get the free options, then option holders have to convert - of course, some will convert, but some will not - best wait to see what happens. this one free share for every 8 or 9 shares is just silly stuff, as the share price will be adjusted accordingly.

as it is, there are only about 100m options outstanding (the 5c ones will not get exercised) - IF (IF) they are all converted prior to the consolidation, that will raise another million. some figures do not tally somewhere. anyway, the bottom line is, is that the company spends $2m a year doing nothing, so the minute that they actually do something, the money will fly out the door. at the very latest, the company will start thinking about a capital raising by early in the new year (2009)