easy.....If you had no MHM at all- Would you buy the heads today...

easy.....

If you had no MHM at all- Would you buy the heads today for more than 20c???

If yes, then exercise your options and retain the shares.

If no, then sell the options and leave.

I think the shares are worth much more than 20c (perhaps I am a true believer!!) If the heads drop below 20c (heaven forbid) I will buy heads and let the options lapse and be better off.

If I am right about the value, we are all better off letting if lots of people let there options lapse and the company does a cap raising at a higher price later (less dilution).

If the shares stay below 20c then the whole enterprise is likley to be a dud and it doesn't matter anyway!