value of mpm military contract, page-16

OK, after that flood of info : )... the 2013 Options @ 0.015 were picked up by punters who subscribed to the 2010 $3M non-renounceable rights issue - one 'free' option for every share bought...

this is a good thing, as my concern was that Andrew Doyle or note holders held the bulk of these options - which means potentially, should the SP be nicely above 0.015 and the options well and truly in the money next year, then there exercise could be expected, which would net over $20M, providing then the much needed cash to redeem both the secured and unsecured 2015 notes, if holders were agreeable to that action...

of course there would also be an additional 1.35 billion shares on the register, which at current levels would mean a nominal dilution impact on existing shareholders of 44% - ugly, but any such new shares would be held by many shareholders, instead of just a few...


good luck