Didn't mention being 'really surprised' Global, will put that one down to the exuberance of youth: a little hyperactive these days.
See u remain in denial regarding downward pressure of 94M options on sp.
Jaberwock, a graphite analyst, remarked on MNS 1c options overhang Jul 2016: "Downward pressure from the exercising of the remaining 117 million warrants will no doubt put the brakes on the share price temporarily, and may create a lot of volatility."
"...it would be the absolute minority that would be doing this, why you ask. 1. Many people would be in heads, or options, not both. Some yes but limited. Options are higher risk, most traders wont touch them. Only blue sky lovers of the stock buy them because they totally believe in the story. That same mindset wont allow them to sell heads to convert options. "
Plenty of MNS holders own BOTH heads and options.
Selling heads is valid approach without risking further capital.
Here's one option holders thoughts mentioned in previous post:
"2. If your converting your options and need the money for the exercise price, why sell the heads of the company that has been performing extremely well? You sell a share that hasn't been performing. You keep the long term performers and sell the dead wood, investing 101."
Concrete example: T20 holders, Mr/Mrs Peluso own 3.9M options at last count.
Cost $39K way back but now need $375K to convert/sell.
It's a decent chunk of cash and they may not have 1.5M Slater & Gordon's in bottom drawer as per ur Investing 101 'advice'. But they may have heads to sell & want further exposure.
"3. 10.5 million are held by directors, so at least 11% of remaining options to be converted is held by directors. They have never sold heads to convert options previously."
Director selling heads to fund option conversion not that unusual.
Frank P has 9.5M heads & 4.6M 1c options. Why not some sell heads to fund rather than stumping up $438K in cash? Why not mitigate the risk? Seems perfectly reasonable approach and in ideal position to determine timing.
Mr Mazzotta, who owns 11% of MNS, the biggest shareholder by a country mile, sold off net 10M 2015-2016, some of which funded 25M+ option conversion.It's a perfectly legitimate approach to de-risking.
So cheer up, and try not to be so anxious regarding selling down heads, the sp might not collapse if further MOU's announced....
(20min delay)