How are they getting $50 million from options when according to...

How are they getting $50 million from options when according to the CPH announcement all the options are getting converted to full shares?

Creso Pharma listed optionholders will receive 0.0185 PharmaCielo shares for eachCreso Pharma listed option held representing a value of AUD$0.15 based on the PCLOVWAP1• Holders of Creso Pharma performance shares, performance rights and other unlistedsecurities will also be eligible to receive PharmaCielo shares subject to agreed ratios

No mention of any money being required. Plus that was valuing PLCO at $8. Now it is $6.75. 6 months ago it was $2. Both CPH holders and PLCO holders are selling giving a reality check to the people who put the deal together. What is going to happen to CPH shares if the deal falls through? What about if you need/want to sell and this takes a year for you to get listed PLCO shares?

Did you read this part of the report?

Company-Specific Disclosures:
1 GMP/FirstEnergy has, within the previous 12 months, provided paid investment banking services or acted as underwriter to the issuer.2 RESERVED
3 GMP/FirstEnergy owns 1% or more of this issuer’s securities.4 RESERVED
5 The analyst is related to an officer, director or advisory board member of this issuer, but that related individual has no influence in the preparation of thisreport.
6 The analyst has viewed the operations of this issuer and the issuer paid all or a portion of the travel expenses associated with the analyst’s site visit to itsoperations.7 The analyst has viewed the operations of this issuer.
8 The analyst and/or a member of their household has a position in this issuer's securities.
9 A member of the Board of Directors of this issuer is also a member of the Board of Directors of GMP Capital Inc., but that individual had no influence inthe preparation of this report.
10 The analyst owns this issuer's securities in a managed account but has no involvement in the investment decisions for that managed account.

Before you try and say im not a holder. I sold at 57c.