Hi BigRedI'm not sure if you interpreted this correctly? I would...

Hi BigRed

I'm not sure if you interpreted this correctly?

I would imagine Lee's 08/03/12 options were unsurprisingly allowed to lapse because the exercise price was $0.18 ie. 18cents each. Why would he (or anyone) have paid $18000 to convert a million unlisted options to shares on the 08/03/12, when you can buy them at market for $1000 or $2000/million?

So my take is that allowing his 08.03.12 options to lapse rather than convert them would be normal economic common sense given the current share price, and says NOTHING about the possible future share price, or the potential timing of it.

Good luck.