Number Crunching

Number crunching time part 1. Pls feel free to double check my working and logic.
1. Nxr has 30% equity in WBT.
2. To get 40% they, NXR, has to spend $1,000,000
3. To get a controlling stake of 51% they have to spend another $1,750,000
4. 58,631,241 options expire 31 Dec 2014 with a strike price of 5c = $2,931,562.

So theoretically if all the options get cashed in then NXR should have enough $ to gain a controlling stake in WBT.

Timing.
1. Options expire 31 Dec 2014.
2. Next phase of development due to be completed by Feb 2015 and I am guessing that NXR taking the next 10% is conditional upon the success of that phase.

Questions.

1. What phase of development is the trigger for NXR to take the final 11% equity in WBT and in what time frame?

2. What will NXR do with the balance of cash from the options in Dec 14?


cheers,