One of the CONDITIONS of the CN's states that if the CN is not excised within 18 months then the owner of the CN can get the FULL AMOUNT returned.
So potentially up to $4M raised is still a liability which the SHAREHOLDERS will need to cover.
At the moment we don't know if any were sold at the open yesterday but currently they won't be getting converted for no profit.
Will likely have that information in this quarters financials ( not in the next one due ).
Ann: Classic to Issue Loyalty Options to Shareholders, page-32
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