Ann: Emerge Secures $4.7M from Option Exercise Underwriting, page-45

With a very low strike price, whilst I believe in the products and partnerships to come should create shareholder value I have to admit Management are taking the piss on this one.

They only recently approved a ton of freebie options for themselves which will cap future price rises, and there is a huge backlog of options. Clearly they won't let them expire so close to the money but also giving extra incentives on top after slicing the undertaker fee is petty and not needed.

Printing endless options seldom ends well, and even though 18m is a small amount in total cap it's constant and keeps accumulating everytime they issue more and deflates away.

I'm still a "Buy" at these levels, but my target exit price has drastically reduced after todays news.