latest announcement has gda issuing 72m shares upon the...

latest announcement has gda issuing 72m shares upon the conversion of options. 21m options were converted some time ago. there was a shortfall of about 20m . Issued capital is now about 300m shares, and 100m 1c options.

with the last 1 for 1 issue at 1c, together with placements, and the conversion of the options, then the company has raised about $2.2m in the last 6 months.

after allowing for creditors, loans, and ongoing expenditure, then the company could have available funds of a bit more than about $500,000. an share issue has to be a certainty within about 3 months. an issue at .5c is almost certain - but heh - maybe it could be done at .75c.. a one for one issue would raise somewhere between $1.5m and $2m. if the issue is done with a free option, then that could very nicely increase share capital to about 600m shares, and 400m options - for a nice round total of about 1 billion pieces of paper