They were 30c options, very much in the money. As far as I can...

They were 30c options, very much in the money.

As far as I can see Michael Cooper held 371,307 of these 30cNov21 options on the first 3Y's after the backdoor listing. I can't see if he paid anything, but I assume he didn't which means he is sitting on a $144,809.73 unrealised profit.

So I fundamentally disagree that it's suggesting it's tied to news, or sinking ship. His cost base for conversion would be 30c no matter what.

All I see is a director converting a few months before they expire.

Also, I could be wrong, but I assumed that the blackout period for insider trading before news release would also include option converting not just share purchases. Which would mean news wouldn't be expected in the immediate future.