No worries Aberfan
Just remember that your *personal* risk factor is what is important and that your risks are held lowest if you exercise as late as possible - if you wait to Sept and the shares are trading below 10 cents and you still believe the stock is worth more you can buy then for under 10 cents.
If however the stock begins trading at 20 or 30 cents, there is still not a real incentive for you to convert until Sept - the money is still better in your account. Alternatively, if this was the case you would be able to also sell the options for a decent profit which you can also consider (a larger profit than if you converted to shares and then sold them).
Cheers
Tim
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