Ann: Notice of General Meeting/Proxy Form , page-6

my mistake rubik, it wasn't 32c, after re-reading the notice it appears the options were valued based on a share price of 31c... even worse. Works out to a cost of $495k to the shareholder for the issue of the options and add to that a 5c per share loss since the IPO... not sure about you, but I sure as hell don't like being slapped across the face twice.

If the share price had maintained its IPO price of 36c then the options would exercise at 40c - simple as that. Not only do we have sloths managing the company, but they like their renumeration too.

If the directors want their boots filled, then there is a marketplace where they can buy shares in our company.