These were once partly paid shares, with a conversion price of 24.99 cents. They were so far out of the money it is not funny.
So the company changed the conversion price 24.99 to 4.99 cents to bring them into the money.
Partly paids have an unlimited shelf life.
They were forced to change them from partly paids to options because the company is currently registered as a 'NL' company. An NL company has to have its primary activity as a miner. The only thing this company has mined is the money from shareholders.
Those partly paids are now options with a shelf life of 3 years. Imagine that, options for 3 years that are currently priced at a 60% discount.
I laugh so hard when I read about this company
LIT Price at posting:
12.0¢ Sentiment: Sell Disclosure: Not Held
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