where are those tranche 2 funds, page-12

Lee

The option won't dilute their share price. The option price is determined by fair value to the heads however there may be some wanting to take some cash out as the price rises but who knows. The sophisticateds that have bought have obviously felt confident enough not to reneg so they may well hold onto their options for a while yet?
Plenty of room to move market cap wise. Fully diluted is just over $30m but we know what we want
(it worked for Lee so why not lol)