"therefore said buyer must have a belief this will bring a...

"therefore said buyer must have a belief this will bring a return.....the seller obviously not!"

I get it now @88eallin. I get where your frustration stems from.
You simply arn't prepared to do the work and put some decent research into what's happening with this company.
Lets dissect your above quoted view:
As a MAJOR generalization, the above line can be said for market transactions. But not in NOR's case. Not this time

1: There are only 2 holders with that sort of volume in Options to sell
2: One of those holders has continually been accumulating, for quite a while now. So we can assume it's not them selling options
3: The other holder, (pinacle), has been a long time financial backer of NOR and runs a very successful business that's "transaction" driven and not really interested in "going long" with any company, regardless of what fortunes lay around the corner for said company. The business model they run, is just not geared to hold long.
4: In addition to fees and interest for underwriting the CR, they also have a stack of free options that they would need to sell. So, with $100k+ from the sale of these options, together with interest $$ and charges, plus the sale of allocated shares, this "transaction" has worked out very nicely indeed for them.
5: BUT, for point 4 to be successful, there needs to be sufficient interest out there, in the sophisticated investor market, for them to sell into?

THEY HAVE HAD NO PROBLEM MOVING THEIR ALLOCATED SHARES AND NOW OPTIONS!