Does WSR Have Any Options That Can be Bought, page-22

The 57m options at 5c means those holders holding the ordinary shares will sell at least that many imo. Shares on issue blows out if they make 5m revenue a year upon completion of the acquisition. I dont believe they have completed the acquisition yet.


Capital Structure Shares Currently on Issue 363,085,005
Acquisition of Spookfish and Geospatial Investments 160,000,000
Introduction and Facilitation Shares 8,400,000
Placement ($4m) 3 115,000,000
Total on Issue 646,485,005

Notes:
1. The following securities will be issued to vendors:

i. 160,000,000 Milestone Shares would be issued upon generation of $20,000,000 of cumulative revenue or VWAP of the Company’s Shares calculated on the preceding 20 days on which trades are recoded on ASX being equal to or greater than 18 cents within 4 years of completion of the Acquisition;

ii. 200,000,000 Milestone Shares would be issued upon generation of $36,000,000 of cumulative revenue or VWAP of the Company’s Shares calculated on the preceding 20 days on which trades are recoded on ASX being equal to or greater than 18 cents within 5 years of completion of the Acquisition;

2. The following securities would be issued as part of completion of the Acquisition to advisors for the introduction and facilitation of the transaction:

i. 11,200,000 Milestone Shares would be issued upon generation of $20,000,000 of cumulative revenue or VWAP of the Company’s Shares calculated on the preceding 20 days on which trades are recoded on ASX being equal to or greater than 18 cents within 4 years of completion of the Acquisition;

ii. 14,000,000 Milestone Shares would be issued upon generation of $36,000,000 of cumulative revenue or VWAP of the Company’s Shares calculated on the preceding 20 days on which trades are recoded on ASX being equal to or greater than 18 cents within 5 years of completion of the Acquisition. Further detail of the terms and conditions of the Milestone Shares is set out in the announcement made to ASX on 17 July 2014.

3. Pursuant to the Placement terms, 57,500,000 unlisted options exercisable at $0.05 on or before 30 November 2018 will be issued as free attaching options.

4. In addition, the Company intends to issue 7,500,000 unlisted options to existing directors subject to shareholder approval.