you probably do have a pretty good position to push for a waiver based on ethical grounds for the timeline of issue & restriction from the latest placement - PYCO was really undermined on it's duration from the placement put forward & no position for shareholders to take part in the undermining factor.
PYCO issued to "shareholders" in September 2010 with 15c exercise price & 12 month terms. The 12 month term was effectively cut off after 6 months with the company undertaking a "private" placement greatly increasing the number of securities & issuing options with a far lower exercise price and 5 year terms. NW even stated in the German webcast that the options where "admittedly generous" issued to the sophs in the private placement"
Who knows - just ramble
anyone see pyco getting into the money ? , page-16
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