Ann: Application for quotation of securities - 4DS, page-8

Agree.

The holder needs to sell less shares to pay the exercise cost ( 1.061 million shares at $ 0,09 to pay an exercise cost of $ 95500).

There are still 500,000 options at 0,042.
I believe those options belong to Michael Van Buskirk.

He had 500,000 unvested options left at the end of last year.
as he left in April, if those options vest every six months, he might have lost them.

So you are right, there are probably no more options at 0,042.

We are probably already in a black out period based on last year july quarterly report issue date (July 22 2021)
July 22 less two weeks = july 8

if we are on the quarterly report black out period, the only one who could exercise and sell is Michael Van Buskirk, as he is no more a Designated Person of the company.
He might have waited for the start o the black out period to be sure that all insider selling had ceased.

Not a sure thing though. In 2020, the last quarterly was issued on July 31. So black out period should have started on july 17 (but I didn't see any trading policy notice prior to 2021).