To be fair the partly 300m paid shares have near zero chance of getting up, they imply a 2.7cps value of which 0.9c would need to be paid each year. Pretty safe to work on 421m SOI, likewise the options, with circa 400m of them at 1.8cps strike the SP needs to put on 100% before they have any meaningful contribution.
Sub $4m cap, sub $3m EV, does seem awfully cheap even with the off chance of dilution at 100 and 200 percent premiums.
To be fair the partly 300m paid shares have near zero chance of...
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