From the half-yearly: on 13 July 2023, the Company issued 7,500,000 options at $0.01 to settle accrued directors’ remuneration amounting to $102,000. The options are exercisable at 4 cents expiring 13 July 2026.
These options are now in-the-money. The directors involved could exercise them, sell the new shares and put cash in their pocket. And the company would have an extra $300,000 in the bank.
Win-win. Everybody happy. All it needs is a buyer of the 7.5 million new shares, and here is where Cotchy, Cel6 and extended family members can step in.
NOR Price at posting:
4.7¢ Sentiment: None Disclosure: Not Held
