The risks listed in the prospectus are all real - they have to...

The risks listed in the prospectus are all real - they have to point out these things in any prospectus because there is a possibility of things not working out and the directors are required to do this or face the consequences later if it does not go well. However, there is no indication of how big or small the risk is, that is up to the potential shareholder/option holder to assess. We all know mst is a riskier share than most, but still has a good potential for good gains from the current price in the long run. The current situation is I think a result of (in hindsight) poor decisions taken (or not taken) a long time ago and the current management is doing its best to keep the company going. Even though there are risks (as stated in the prospectus) that there could be problems with the GEM finance under certain circumstances, there is no reason at the moment to think that GEM are going to pull out and abandon it. Having only $800k cash is not unexpected because the company only draws down as it needs the cash and it is still available periodically under the agreement. They are seeking further finance under better terms. If they acan achieve this, the sp should lift a bit.

The board has elected to give previous option holders the right to continue with them if they want to in line with the original agreement for note holders. Even though it is at a cost and even if none are taken up, it is the right and fair thing to do and is fully in accordance with motions passed by the shareholders so no need to complain about this one.

Could the sp get over .15 in 18 months? Very unlikely, but not impossible. It will be interesting to see how many previous option holders are willing to take the punt.

I hold quite a few of these options and will make a decision towards the end of April according to what happens in the meantime.