tiger shares roar after afro presentations, page-12

Basically, TGSO gives you the chance to buy 1 share for every option held for 45c. This is paid to the company.

These options can be "underwritten", and any options that do not get converted (by paying 45c to convert to a share) can be converted by the underwritter.

So, If 100M shares expire without being converted, the underwritter could pay $45M to convert the 100M options to 100M shares. These new shares are like any other share.

With TGSO currently trading at 6c, it is actually cheaper to buy the options and convert them, than buy the heads (the shares) in the market for 52c.

Oppies usually trade at a premium, but this premium gets smaller as the time left reduces. TGSO should probably be at 10c at the moment, so cheap IMHO.