Ann: Cleansing Notice - Options Conversion, page-3

ASNOC and ASNOD are company issued options which are different to ETO's. Traditional options are put and call options over existing shares. No new equity is created when these are exercised, and they should make no difference to the company's share price or market capitalisation. It's like a sale between shareholders. In contrast, when company issued options are exercised, new shares are issued and the company receives the exercise price. This will dilute regular shareholders and increase the assets of the company (more cash). In other respects, company issued options are similar to regular call options, with an expiry date, an exercise price a diminishing time value etc. The differences between ASNOC and ASNOD are their issue date, expiry date and strike price. ASNOD is so far from the share price because its strike is $.20 and the current head price is only $0.17 so is considered "out of the money" depending on what you paid for the option and will probably expire worthless.