A 7c exercise price means that before we pay a cent, we're going...

A 7c exercise price means that before we pay a cent, we're going to see a ~20% return from this price.

Now, I doubt they'd sell at 7c for $0 profit.

If they sell at 10c, that'll be a $210,000 profit for this company. A small price to pay for 69.49% in share price.

There is only an upside from this deal at the current share price.

Provided the board discretion is reasonable, as I expect it would be, you'd be foolish to believe we're going to see no return from this deal. If you do believe the board's discretion and judgement is that poor, then I'd personally not invest in Vital.

But given I am invested, I believe in both Geoff and the board.