the silence has broken , page-33

"I would suggest not yet, but he tells my that it is/was serious enough to get all the board to do the paperwork in preparation. That was the driver for the recent S8 filing."

I'm not sure if management would be required to file the S 8 form in a takeover.
Has this been done so that Alan or whoever else can sell some when the SP jumps. Alan must have substantial loans to fund his share purchases over the last 2 years especially the recent $2.4M.

In a t/o all options bonuses etc are vested and all management people would be entitled to sell. I may be wrong but do management have to file S 8 to sell into a t/o?