Ann: Exercise and Expiry of Listed Options, page-4

Spot on BD…That means that the top 20 option holders assuming they all took up their options which is overwhelmingly likely have from number 20, put in $50,000 to number one $220,000. this is an overwhelming success. If this was a broker, looking to raise the same amount. it is very doubtful that he would have a book of 20 sophisticated investors that could raise over 4 1/2 million dollars.
The inference is that they are all sophisticated investors, but with a difference, more than likely they have commitment to the cause.