If you own 1m ordinary shares then you end up with 125,000 New...

If you own 1m ordinary shares then you end up with 125,000 New Ords at ~43 cents and 333,333 Options exercisable at 5 cents so probably trade at ~10-12 cents. So a $54,000 investment in GDA ordinaries would give you $53,750 ($0.43 x 125,000) + $33,333 ($0.10 x 333,333 Options). = $87,083..... Why would you buy options when you can get that..