options are not shares and have zero dilutionary effect until...

options are not shares and have zero dilutionary effect until converted to shares but that would require the payment of 4c a share

Only a madman would convert options while the share price is below the option price so that means you will need to see a share price above the conversion price of 4c for dilution to be a concern. Add to this the fact that the options themselves come at a cost of 1c each and you have an effect total cost of 5c a share

So yes be very scared and concerned about dilutionary effect of options once the share price gets towards 5c

If your buying now around 3c nothing to be worried about SIMPLE!