Ann: Notice of General Meeting/Proxy Form , page-3

The reality is these options have an exercise price of nearly 3 times the current share price at this time giving them little or no value.

Whilst I agree it isn't a great look I would hardly be excited by the issue.

If these guys can get the shares to 35 cents which in the end makes them 5 cents I don't mind as 3 times my current holding value would mean I could put my feet up for a couple of years.

for example 500,000 shares at a profit of 5 cents is going to see any of these guys retire.

I am more concerned about the CEO's actual base salary as for me an appropriate salary would be something like 200k to 220k cash with the rest made up of options or performance rights.