Ann: DVP: DVP & ESS Transformational Transaction, page-179

Directors aren't selling any shares whatsoever. They are paying real money at $ 3.20 for their entitlements.
The CEO B Beament by then has put about 50m of his own hard earned into this company. That should give some sort of confidence.
Once everything is done and dusted with ALL outstanding options converted there still will be well under 300m shares issued. That's what you can't really call massively diluted.
Fair enough you personally don't like this deal but you should stick to the facts as they are.
I am ESS holder as well and happy to take DVP script because this company has a proven top notch management and is getting things done.