Ann: Notification of Expiry of PABO Listed Options, page-6

I don't understand why people buy or convert options when they clearly don't understand them.
CPAGUY It's irrelevant what price you paid for your options, all that matters is the exercise price (2.4c) and the current share price (1.1-1.2c). So unless one is insane you let the options expire and buy the FPOs on market.
In the vein, why exercise your options 5 and a half months before expiry? Unless you sold the shares immediately around Feb 16 when the price was 2.6c it doesn't make any sense. You could have bought shares at 1.0c last week, let your options expire and be $4000 in front.