morningstar, page-10

I think WFLOA will be in the money for sure - strike price 20c by a February 2024 - but for WFLO, 15c by next March might be tight. Even if we get there, it will stay there or only a bit higher for a long time as many people will sell to fund their conversion.
Our new equity swap can accelerate growth, infrastructure, manufacturing capabilities etc but it will still take a long time for revenue to hit the balance sheets.
We need a series of outstanding announcements for next year’s options to continue to be in the money.