Thanks @NK4020, what I was referring to is a slightly different...

Thanks @NK4020, what I was referring to is a slightly different type of dilution.

In the case of Hunter acquisition, holders could have brought more shares on market themselves, raising the price and their holdings in the business and thus decreasing the number of shares issued to the vendors in the Hunter transaction. It's the sort of move a savvy fund manager with lots of conviction and plenty of funds floating around would make, not one I could entertain.

This time, the options convert into cash in the GO2 bank account like you said, which will create some dilution again, but at least this time any existing holders will see the balance sheet improve, even if you are not one of the people exercising an option.

In the Hunter example, it was arbitrary, we were acquiring their business and the revenues they generate anyway, so how many shares they got didn't worry me. In some respects, less shares could have made the vendors more motivated!!

Anyway, the options cash is tangible to the business, it sits in the bank account when received and Management's job is to make smart capital management decisions with it. Whether that is paying down debt, partly funding the next acquisition, etc.

Looking at the last Annual Report (see below), there are 12,101,447 options expiring on the 29th, if excised, this would net $484,057.88 in cash to GO2. I highly doubt all the options get excised, unless we see a rise in price in the next 2 days, but with $50k already banked, even a fair chunk of this would give Management a few more options to play with moving forward.

I highly doubt the 22.5, 30 and 40 cent options get excised given where we are today, but that would be an amazing result for all holders!!