Agreed. At least they are backing themselves and the options are...

Agreed.
At least they are backing themselves and the options are 33% out of the money and will result in more cash on the balance sheet too.
If they go cash flow break even with 7 Mil+ in revenue then the share price will be more like 15 cents.
At this price you are paying nothing for the company and its revenue. When you add up the cash and the tax losses they hold it would cost another company nothing to buy them out and integrate their business.