If they convert then the funds held in escrow (ie $500,000) will have to be released to ESI.
But forgetting all the argie bargies that are going on, on face value if you are offered stock at 2c plus 2c strike tradeable options, who in their right mind would not take up their SPP. U r pretty much guaranteed a handsome return on your investment.
This is the way I see it: - Assuming SPP is same as all others and you are offered 5k worth of stock.
2c SPP for $5k - gets you 250,000 shares and 500,000 options
Options with a strike price of 2c with 5 years life will trade at atleast 1c (ie 5k in value). So in theory you have just doubled your 5k, assuming you can get atleast 2c for the FPO's.
Seems like a no brainer to 2 me. I welcome input if I have missed something.
If they convert then the funds held in escrow (ie $500,000) will...
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