Lots of commentary on the loyalty aspect of the offer.
I understand the knee-jerk reaction, but it ignores the very real loyalty aspect for long term holders.
Case 1
You bought 1.5 million shares for 10c about a year ago, paying $150,000.
With the options offer, you can now acquire another 100,000 shares for $35,000.
Case 2
You spend the same $150,000 to buy shares today, only that buys you just 227,000 shares instead of 1.5 million.
With the options offer, you can only acquire another roughly 15,000 shares for $5,300.
Having skin in the IHL game all this time not only has resulted in capital gains: it allows you to acquire many more new shares at the discounted $0.35 strike price, for the same initial $150,000 input. More than 6 times more shares.
If just one of Incannex's programs gets approved and we the share price hits $5, and you held on to those extra shares along the way, in case 1, you're holding an extra $500,000 thanks to the first option round (not including piggy back). In case 2, you're holding an extra $75,000.
We have no business being long term holders of we can't see the strong potential for at least one - if not several or all - of Incannex's programs to reach approval. So taking the long view, it isn't difficult at all to see why 'loyalty' is certainly NOT misapplied here.
Tempting to want to see new buyers excluded from the offer in order for us to feel 'special' and more rewarded, but that's a short-sighted approach. We should WANT a new group of loyal investors, holding alongside us for their options to come into the money, and beyond. This option program rewards existing loyal holders AND creates new loyalty for the next leg of the journey.
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