so after the consolidation of capital, there are only about 12m...

so after the consolidation of capital, there are only about 12m shares on issue, and another 4m options exercisable at 10c.

the company lends $400,000 to a company, where gda directors have an interest, and if the loan is converted to shares, gda will end up with about 11.5% of the company - ie amazon resources.

obviously amazon resource does not have any money - that is why they are borrowing the money. anyway gda might end up taking over amazon resources. amazon resources must have about 36m shares on issue - ok, will be 36m shares, if gda convert the loan at 10c per share.

if gda is going to be a back door listing for amazon resources, then gda will probably issue about another 32m shares (based on the conversion price of the loan into amazon shares - which is 10c, which probably matches the gda share price.

on what basis are amazon shares valued at 10c????