@Smugtown -- ~ Douglas is an investment director of the company...

@Smugtown --
~ Douglas is an investment director of the company that invests on behalf of Acorn, the listed company. Not such an unusual structure set/up is it? Of course not, but it does show that he is not directly in-control of the company (board member) if they don't outline it in the report (unless it was an error). As such if they did a placement to Acorn it would reset option pricing.

@mattyarty --
Totally agree that options will lapse, its a no brainer.
Why would a business take up options that are significantly higher than the current share price? They could be on the market right now buying shares if they wanted to take a key stake holding in the company.

That is right they could be buying up now (Newmarket), if they intend to let the options expire. They (James Douglas and Newmarket) got until the expiry date (or if it needs to be bought before a blackout period - 31st Dec 2018) to make that decision (4 months).

@Smugtown --
~ "Going concern a last ditch effort to shoo off current investors" - It doesn't work like this. Audit firms are completely independent and would never risk being talked into giving a particular opinion
Don't get me going on this. That is absolute sheet. I saw Going concern every year I was invested in FRM - till they got control.
QHL business is completely different but they have a time frame for earnings from each project. Newmarket don't have a long time frame to squeeze a substantial stake and benefit from the projected economies of scale.

I had another question, but i forget!
@Smugtown -- Good. We are going in circles. Just wait for the option expiry date and prove me wrong. I'd really like that. Because I think I'll eventually be right. GLTAH