just received my proxy for the free kick!, page-7

Options are free but conversion price is 2.5c. Expiry date Dec 2013.

If they are trading at 2.5c in 2013 I'll eat my (expired)Mayan calender.

However I don't begrudge directors earning a monty if they are performing.

Its not alot of money in the scheme of things. Total options 60m.

They state using a Black-Scholes Model (my comments: taking into account various variables and probablity factor for each variable - with a volatility measure of 60%!) then the options are valued at 0.42 cents each i.e $252k. I'll take that with a grain of salt.

If they are exercised at 2.5c then this is $1.5m (across 4 directors.

G Lee is already earning $200k per annum as an executive director. I would ask is the job of an executive director of an investment company that has no operating responsibility of any of the assets a full time job? How many hours per week? what other staff in the office? (overheads I think were about $650k per anuum so must be a few more).

Questions for the AGM -anyone going???

cheers

Maddoc