The 10c bids are genuine I suspect. They have been lining up...

The 10c bids are genuine I suspect. They have been lining up since a few days before the option conversion and provide potential sellers with an immediate and very attractive 100% profit. I feel that the share price is implicitly valued higher BUT the buyers at 10c have chosen their strategy well. They want to get in but they are being smart about it and waiting for the 5c options to hit the market. If the options weren't coming, I suspect the share price may be higher right about now.

This of course makes for a potentially interesting week next week once these buyers have hoovered up the 5c options at 10c... what happens after that, who knows. They may have to start moving up the ladder a little.