wishful thinking, page-6

lol. Not part of the club. Is that an invite? :)

I think we need to ask ourselves, who owns the options, who benefits from their conversion or expirey, what other alternatives their are, etc.

IMO, we were all given free option in the last capital raising. But the ratio was very small. The lions share have gone to soph investors.

So the next thing to ask is, who are the sophs? Well its the same broker houses everytime and you can bet friends of the company.

Then you need to ask do the sophs still hold the PNOO or are they long gone? Ofcourse they left the building long ago. Profit in hand.

In a sense the company no longer has a vested interest. They dont win or lose on conversion. Only ordinary holders that have purchased on market(from the sophs) can win or lose.

You could argue that if PNOO expire then the merry go round starts agian and sophs/friends can line their pockets again.

Or you could argue that, the company benefit more by letting them lapse and then a series of announcemence get sp above 1.5c and we do a placement/spp/rights issue above that price. In effect less dilution. We all win.

I cant see a scenario where getting them in the money is worth the effort for them. If it happens they will be happy no doubt, but its beyond their control. If we get a massive distribution deal then fine, but otherwise they have good options available.

No doubt the board meeting focus would be on funding. That means PNOO, placements, debt, con notes, etc. Im sure they will find a solution that benefits everyone.