i hope it is not just a case of, page-17

Done some maths and made the assumption that seeing the placement is scheduled for 16 Feb it's one placement. Therefore at July 1, 2007 that holder will have 9.939% of the company, (as well as at the meeting in April) then in 2010 assuming the holder takes up the options - will hold 18.08% of the company. Average cost per share-3.78cents. What has been in this for existing shareholders and why not a 1 share for 5 offering? Better be other good news in the offing otherwise it appears existing shareholders have been hung out to dry