Ann: Application for quotation of securities - LRS, page-8

That's part of the problem - the company released very little explanatory information other than this (below screenshot). The way it's written it looks like payment only via these options (but not possible to determine until we see the upcoming quarterly).

I'm not sure exactly what they could be advising us on other than a potential TSX listing process. The only other possibility would be some sort of takeover.

If they're advising us on a TSX listing, I still don't see why they would agree to an exercise price of 45 and 55 cents (and the imminent expiry dates). Simply listing LRS on the Canadian board is unlikely to make much of a difference to our valuation (on its own).