Ann: Revised Notice of General Meeting/Proxy Form, page-7

After some clarity here please from those in the know....

So an option holder that has say 10m options pays up another $10k to take up the offer - which will yield them another 10m options. However the original options will lapse ?? leaving the option holder with 10m as opposed to 20m holdings at the end of the process. There is no mention of extending the original options and rolling into the new issue. If the company were fair dinkum about supporting their holders, would they not also extend the original options into this issue effectively giving holders the carrot of doubling their holdings at minimum price / cost ?

So whilst the company has reduced the offer price to .001 and lowered the strike to 2c until 2021 - effectively, this could be viewed as a thinly veiled raise under the guise of a shareholder loyalty reward.

Please correct me if I am wrong here.....