I probably didn't explain myself properly.
"The Company will allot immediately 123,900,000 Shares at an issue price of 1 cent"
123,900,000 x 1c = $1.239Mil (this is not $3mil)
The remainder has to come from the "anticipated"?? conversion of the free attached options.
123,900,000 x 3c (if converted) = $3.717Mil
Ann: Placement and Appendix 3B , page-5
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