Hi Orange,
They received approval to issue 70m shares at 4c but only issued just over 30m to bring the total shares on issue to exactly 62,000,000.
So, there is no need to assume that Management can issue the other 40m at their discretion as it's a fact that they can.
My guess is that Mathew Walker doesn't want to dilute himself and his inner sanctum more than he has to and has only issued the 30m odd and will (hopefully) do the next CR at a price higher than 4c when it is required in the future.
Either way, this is the best Mathew Walker shell setup out of the lot that he has/had and he's had some rippers/best deals going around that have multi-multi-bagged (VTX, ZIP, NXR, etc).
Cheers,
GB.
Becoming a Matthew Walker Shell, page-38
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