PhilW,As for how I see things:According to the Funding...

PhilW,

As for how I see things:

According to the Funding Announcement on 20 June 2011 SpringTree would invest:
$310,000 on execution
$60,000 - $120,000 a month for 18 months
and they would be issued 1,500,000 option with an exercise price of $0.197.

The Dilution protection condition states that 'No monthly trench may exceed 0.5% of the shares on issue at the time of payment.

Now the current shares on issue is approx 99.3M
Even assuming a shares on issue of, say 130M (given the shares on issue increases with time) the maximum shares that can be issued would be about 11.7 Million

given the options are at $0.197, any significant dilution I see is with the initial $310,000 investment.

Does this sound right? (hope I am not missing something)
May be you wanna check this out with Brett if you ever contact him again.

Cheers,
M