Cableguy, i agree with dnbuck the situation proposedShares...

Cableguy, i agree with dnbuck the situation proposed

Shares before 139,381,174
add the Placed (= to ratify RESOL. 1) 20,907,176

Equals 160,288,350 this agrees to their new Appendix3

Plus New "Screw the Shareholders Placement" (RESOL.2) 52,348,366

Plus SPP (RESOL 3) 25,000,000
so the new Total no.of shares are 237,636,716


Nickbou - i agree with sentiment let Resol#1 pass and on that basis I would agree with Resol#3 [with a change I will detail] because small holders should get a lick of the icecream too. BUT I AM STRONGLY AGAINST THIS RESOL#2 - it is outrageous to dilute further at this stage - it can wait till later at a much stronger SP.

Regarding Resol#3 - I can't figure their attitude! Issue up to 25mil shares ...to max of $5000 per holder, more used car salesman nonsense........

The maths just doesn't compute. With 1400 shareholders(Ann Report) + new holders from placement 20 ? 50? 100?
So say 1500 holders - either dividing the $25m by 1500 gives 16,666 shares at 12c would only be $2,000.

Or the other way multiplying $5000 by 1500 would raise $7,500,000 divided by 12 cents would be 62,500,000 shares.