Ann: Appendix 3B - Option excercise, page-17

Richard has over 37m shares... is our sitting Executive Chairman.. exercises 1m options @ avg of 35 cents to sell on market to make $50k ... doesn't quite stack up does it?

Firstly because the decline in value of his remaining 36m shares after he sells his 1m shares on market would far outweigh the $50k he will make ... secondly imagine the the damage to his reputation and that of the company if our Chairman exercised options only to dump on market.

If he needed cash, he would have just sold some of his 36m shares prior to the exercise ... instead he pulled out $350k of his own cash and increased his holding... a good sign compared to Ronen who recently sold 1.9m shares on market to pay his tax bills.