a quick thought, page-3

Tough one CBD. As a holder of 3m EMSOA I don't even think I would go for a re-issue if it was priced. At 0.005 it's a(nother) $15k to tip in and like you say, with the last 5+ years of delays, I'm not sure I'd want to risk that blowing up as EMSOA is shortly about to. At some point you have to pull the pin on a bad trade and I might as well just buy some of the headstock and sit on that for a while.

If the options don't get up then we're heading towards another cap raising and I wouldn't bet on that being before the report is out given the track record. Re-issued options start to look like a waste relative to 2.x share price / cap raising...

Agree with you comments on management alignment though. Who would have thought that EMS would involve moral hazard...