. yesterday, there was a "appendix 3B" anouncement, for gda. in...

. yesterday, there was a "appendix 3B" anouncement, for gda. in all fairness, there is a high probability that no one reads them - no one except watso.

some keen gda holder, converted 163 options at $1 each - so the company has raised $163 (mmm - that was an easy calculation) - yet the shares can be bought on market at sub 10c.

frankly, this is not the first time, that watso has noted irrational behaviour on the part of gda option holders - and watso wonders if directors have a "duty of care" to inform option holders, that their behaviour is irrational.

perhaps the poor shareholder, thought that he had 16,300 shares, which he was converting at 1c each - and was thinking that he could make a profit by selling at the present price - but did not realize that there had been a consolidation.

maybe the simple answer, is that gda holders (shareholders and option holders), simply have no brains.

GDA - Generally, Depleted Australians