Ann: Letter to Shareholders, page-4

Sorry, maybe I misunderstand how options work, looking at the exercise price of 30c, and an expiration of 2020, and the 40c exercice price at 2021, doesn't that kind of imply that those options will only be worth something as we get closer to that date, and that the SP was above the exercise price?

Maybe if I explain it this way. What if the options where:
30c exp. 31st Dec 2018
would that not imply that management would anticipate that the SP will be higher than 30c before that date?

but the option is 30c 2020, that's 2 years away....

I should be entitled to options, so I will purchase them when I get the instruction I guess.