Done some maths and made the assumption that seeing the...

Done some maths and made the assumption that seeing the placement is scheduled for 16 Feb it's one placement. Therefore at July 1, 2007 that holder will have 9.939% of the company, (as well as at the meeting in April) then in 2010 assuming the holder takes up the options - will hold 18.08% of the company. Average cost per share-3.78cents. What has been in this for existing shareholders and why not a 1 share for 5 offering? Better be other good news in the offing otherwise it appears existing shareholders have been hung out to dry