My maths is less complicated and wasn't planning to wait until...

My maths is less complicated and wasn't planning to wait until options exercise. New listed opts to be issued in May have a Black-Scholes value marginally higher than GPPOs (new opts ex date Dec 2021) so doesn't matter the exercise price is higher.

200,000 new opts at $0.007 ($1,400) reduces a 300,000 SPP share buy price to $0.0084 ($2,520) after opts sale brokerage. Even if 200,000 new opts trade at $0.006 the 300,000 shares net cost is $0.009 - difference is +$1,200 or +15 bottles of Bombay.

Current market trades at 1.3c could include holders selling in anticipation of new shares + options and simply pocketing the new options.

Although if the SP falls below 1.3c then naturally will be less than 15 Bombays..