Ann: Loyalty Options Offer - Distribution Schedule - ACMOA, page-33

generally options trade at under 1 cent until they SP reached about the excercise price - these are trading at a premium for a couple of reasons

1/ the exercise price is high and the share price is also high such a low market cap stock - so if you want say 100,000 to get a decent exposure to upside you can pay $30,000 for the shares or say $7000 for the options and hope that they have plenty of gains to come

2/ the upside potential is large here again because it's a small cap with a high price it will move fast with big gains for both share holders and option holders