Ann: Application for quotation of securities - IHL, page-9

im not sure what i think about it if that is all he will exercise,

on one hand its great news for share holders that there will not be a larger amount of dilution, on the other its 36mil that would not be in the company coffers.

can only assume that if it is all he will exercise they have great confidence that adequate funding will be received to keep the ball rolling which is good. i would think they have had multiple in house discussion about the options and whats best for the company. i think ill just let it roll a be happy with whatever those smarter than me decide