Just trying to get an understanding of whats gone on with this...

Just trying to get an understanding of whats gone on with this stock. I can get the following from the announcements:

$1.5m fully under-written issue (as a result of MOU signed with Pelagic and Ochre). P&O to recieve 125m unlisted 20c 3 yr 20c options for this and then another 125m set of options.

Now the private placement (490k - seperate to the MOU)was completed and the balance of the 835k (as per the cash flow)is from these guys.

So as things stand they have zero interest as the the fully under-written issue turned out to be not so fully under-written (it rased only app 345k).

Has this MOU lapsed or is it going to be re-negotiated?

So far no new project has been added by P&O?