Really? If there are only $5M shares up for shareholders...

Really? If there are only $5M shares up for shareholders including instos that hold shares, that equates to 16,666,666 shares at 30 cents. Why would one shareholder be favoured with 10M of those shares? Won’t happen.

Why would someone or a company sell 10,000,000 shares (a) with likely tax implications, and (b) an almost certainty that they would not be allocated that amount back, resulting in a diminution of their holding? They can only apply for $15,000 worth, which is a mere 50,000 shares. So, on your scenario they are at best down 950,000 shares with a tax liability, and possibly down even more shares.

Why, even if they for some unbelievable and inexplicable reason they got their 10M shares allocated, and 5M options, which is impossible, would they pay $2,250,000 to later convert them (5M x 45c), when instead they could simply have kept their original “10 million shares”, bought 5 million more at 30 cents instead of 45 cents, increased their overall holding to the intended 15,000,000 shares and saved themselves (5,000,000 x 15c =) $750,000, avoided the tax on the initial sale you proposed, and sent me a bottle of Grange?

I like the theory, and if there was a specific offer based upon shares held, it might have some merit.

But with only $5M Cap Raising for pleb shareholders, respectfully it could not succeed.

Regards

PDS