Ann: Trading Halt, page-8

Apparently Company is advised/feels/ suspects whatever that Loyalty Options will NOT be fully exercised at 25 cents even if 'in the money' Feb/March trading is in the 30's even 40's.
How could this be so ? Institutional Holders who were in for the placement with attached options recently sold out their positions and might not want to re invest at 25 cent/share. Other Option Holders may be advising the company of won't be exercising even in the money due to their financial situation

so even though non transferable, it is legit for an Option Shortfall to be covered by an Underwriter thus ensuring the full Equity Financing is forthcoming for this capex.

Anyhow Mgt could be just Ultra Conservative. Underwriter may not have to underwrite Nil or a coupla $100,000 or even number, earn a fee like an insurance premium.

try and not panic. just a market dynamic.
frankly can't see why a trading halt is warranted.