worried about these diluting free option

I am very worried!!!!!
Was sitting pretty, daydreaming & sipping my shardy, thinking about all those "paper" dollars I have with EWC share price @ 60c. WOW !!!!!!!!!!
Then reality set in post AGM, clarity regarding the immediate impact of the dilutionary effect of ALL THOSE freeby options with a strike price of 25c being exercised. - SHIT !!!!!!
######## There stands to be more than 1.3 billion shares on issue after the new option take up and WHO in there right mind thinks that the SP will hold up after that!! ~1.3 bil shares x current 60c does not compute, how can that share price be justified by current and near future earnings.
CONCLUSION: It will take only one reasonable negative fallback in the market for this stock's price to plummet. Growth stock ramblings won't cut.

COMMENTS PLEASE, as I am very tempted to sell now while I still have a smile on my face!