Ann: Appendix 3B & ESOP Plan Rules, page-28

Possibly that's why he is downramping it. Very few people would take the time to downramp any stock unless they had an axe to grind or a grievance. I mean, why bother otherwise. Always a personal motive. My guess on this one is he held the stock, it did not go anywhere, probably sold at a loss, now its 2 or 3 bagged since then and he feels hurt. Get over it.

Regarding the options issuance, its okay with me given the 7c strike price. That means in reality the stock should be reasonably north of 7c to entice employees to exercise the oppies, I mean its too risky for them to put down their hard-earned if the SP is just hovering at 7c. So I would think a 9c or 10c share price would be sufficient encouragement to give the comfort. We would all be winners if that's the case.