They invested an initial US $200k in the Seed B as per the announcement from last month, and are entitled to a 30 day option for an additional US $1mil Seed A which is due to expire around about now. I assume the ASX queried exactly what their investment and sought clarification which just brought the issue to a head a few days earlier than anticipated. The interesting point will be whether or not they will raise further capital if they take up the offer, which could explain the NCX presentation. By my calculations they should just be covered with the $500k raised last month and can always look to exercise options for more cash.
OOK Price at posting:
4.2¢ Sentiment: Buy Disclosure: Held
