Ann: Loyalty Option Issue Raises $23.6M, page-36

i mean if your looking to buy 10mil+ shares you would probably avoid doing it on market, look at what happened a few months ago which was proceeded by a large xt. you dont get to strategic investor status pumping up the sp buying on market. the options were exercised, just not by the bod, in effect a suedo cr to this investor. not an issue at this stage, depending on how they plan to "provide ndq liquidity". but hopefully an additional 460k adr on the ndq market proves to be a good thing.