If that is the case, then this was trading at 1/2 cash backing...

If that is the case, then this was trading at 1/2 cash backing (Cap under $10m and nearly $18m in cash) and the couple of hundred million incentive options just issued to management were also priced at about 1/2 of cash backing?! That last is quite shocking if you think about it.

Had I known I would have had a bigger position, but I still would have sold out at a more reasonable capitalization. In effect I sold then at cash backing.

Directors are sitting on around $6m profit on those incentives in under a week!