I have never said that the accounting standards require the...

I have never said that the accounting standards require the value of issued options to be fully reflected in the P&L. What I am saying is that $8 M of cost has been incurred this year, and that it is a failure of accounting standards that the cost is not fully reflected in the P&L.

That is neither new nor controversial, just another way that accounting standards do not always reflect the reality of a business.

All I am saying is that it is problematic is that options are a genuine cost to shareholders, but are not reflected in the P&L which therefore overstates the position of the company to shareholders. The cost is real and it is unwise to ignore what ultimately is one of the single biggest costs paid by DRO shareholders.