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

Options exercise price 33% premium to the 5-day VWAP for the period immediately prior to Friday, 11 January 2013

If not approved, BLR buys Haynes $200k worth of on market shares within 30 days of Friday, 11 January 2013 and BLR burn rate stays the same.

If approved, Instead of a Salary Haynes would get (according to my rough calc)

7.5mil options off the bat
7.5mil options for staying for a year
7.5mil options if shares get to 0.0228
7.5mil options if shares get to 0.0380

I’ll be voting yes.