I think most holders will agree, a 6c strike price is reasonable.
With a 6c strike price, the SP really needs to be well above that, maybe 10c, before you would exercise the options. Its the same strike price for our options that we got in the CR for supporting the company. So that's a level playing field. That date is June 2018, I would be happy with that instead of potentially November 2019.
Management will then be aligned more with shareholders. I still haven't forgotten the poor outlay by Glen and Patrick and Leanne
for the raising to support the company, Russell did dig deep though.
My last correspondence with Russell he said he has never been more bullish for Velpic and delighted the work the company has achieved so far and he said that we are looking very strong going into 2017. That's not verbatim but that's the gist of the email. If this is the case then there should be no reason why he would not agree to an amendment of the proposals IMO. If Velpic are not open to these suggestions then I can only come to the conclusion that 2017 may not be as strong as predicted and that another CR is already on the cards for mid next year.
I for one will be voting against the extra 10% CR allowance as this management has not yet done enough for me to justify that. Get the options in the money instead.
Edit;
@dsgunit you make a very good point, they have a mountain of milestone options already do they deserve any more at all? Are these ones now not achievable and they need new ones to compensate for their poor performance?
