Can We Move On, page-126

The April 2018 Report valuation pasted below

the assumptions are based on a 65% risk factor which seems to equate to a 1/3 reduction in ascribed value of $1.877 bill.

TThe share dilution is based on 840 mill fully paid shares at 16cents/share diluted by 30% equity component to finance taking the total shares on issuevto 2.4 bill.

Since April the foundation assumptions have moved significantly. There are now c1 bill shares on issue and SP is 10 cents for a start. On a 1/3 equity component coming from a share issue at 10 cents/share the dilution would be to c 4 bill being 1 bill on issue and 3 bill for equity raising.