Voting Down Options From CRAP Raise - Thoughts???, page-3

I will add in my 25 years of investing this would have to be the worst CR I have ever seen a company complete. And IMO it was avoidable.
The 4.5c I could live with, just, but the free options @7 cents. Major kick in the goolies.
I will remind everyone here, I wrote to the board back in March as I was concerned the money situation was getting tight, making a suggestion they reward loyal SH's with a small CR at a small discount. Didn't ask for any free options or the likes, we could have easily raised $5 mill at 6c or even 7c and we wouldn't be in this situation. I doubt very much my email went any further for consideration or was even discussed.
Now we have to fight to try not to dilute the value of our shares even more.

Add to this situation, most, or at least a large chunk of the of the 111,111,110 CR participants will likely sell their shares between the 7.5c - 10c range to convert their free 7c options. Its a no brainer and it happens in every stock all the time, when options are being converted.
There's nothing to protect the loyal retail SH's included in the terms.

I see no other option but to VOTE THEM DOWN. They've already had a very good win with a raising completed at a 48% discount. Lets not add to the dilution even further.

This is a great suggestion@Towie0 and I don't know if that's even an option that could be considered. Does anyone actually know from a legal standpoint?

Raising the option conversion price to something respectable like 10-12 cents wouldn't attract too much opposition I would have thought.

Or even REDUCING the amount to make it a 1 free attaching option to every 3 shares would make it slightly more palatable.

I strongly agree doing nothing and just allowing this to go through without strong opposition is no longer an option. We've already been diluted time and time again. For the previous 6-9 months all I heard was how this BFS was going to be a game changer. Be the money maker etc etc etc and here we are trading at 5.2c as I write. It's time us retail shareholders fight for what's right. No I didn't steal that from Clive Palmer