Until options are issued that are tradable so that I can buy them then I don’t see providing options to management and directors as aligning their interest with mine.
Options issued in this manner with a company that I expect to be worth a significant amount in the medium term have a multiplier effect such that I believe the black-sholes method significantly undervalues their worth.
In this instance, as we are short on cash, I would much prefer us to just issue them with shares to the value negotiated in their contract. This would be much less dilution in the long term with no more impact in the short term. A rise in the shareprice then would align managements interest with mine too.
AVR Price at posting:
$20.40 Sentiment: Buy Disclosure: Held
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