It's basic maths.Unless your LMGO dollar cost average is $0.005...

It's basic maths.

Unless your LMGO dollar cost average is $0.005 (one half of one cent), they are not currently in the money.

Say, you paid $0.01 (once cent per LMGO), then add $0.04 (4 cents) to exercise, total cost to end up with LMG is $0.05 (5 cents).
0.4 of one cent above current market price.

Some people, like myself are sitting on lots of options with a DCA north of 5 cents.
To convert, add another 4 cents, and the real cost is north of 9 cents.
When I can buy them directly for ~ 4.6 cents.

Some might argue that exercising the options and sitting on a paper loss right now will become insignificant IF/when this stock takes off once the expected milestones are achieved, and the SP rerates to reflect those milestones. Me, I'm on the fence about converting, or writing them off and be done with it.

When I bought the options there was ~20 month before expiry, and given the published timelines by management, seemed like a no-brainer at the time.
As mentioned above, lesson well and truly learnt however.