Also, check out this link which is announcement from VERUS on...

Also, check out this link which is announcement from VERUS on the 5/10/2009..

http://www.aer.com.au/announcements/2009/1005/00995441.pdf

..specifically the following comments..

"Verus has agreed to issue 75 million listed options (VILO) to Cicero for this service, subject to shareholder approval. These options are on the same terms as those currently on issue being an expiry date of 30 June, 2010 and an exercise price of 10 cents."

..the only thing that confused me about other posters comments was that if VIL got to say 15 cents, then VILO would be 7 cents. The reason this confuses me is because if you paid the 10 cents to convert, then you'd be paying 17 cents for VIL - 2 cents more.

Anyway, i've picked up a small parcel at 7 cents today which I think is VILiant. :-)