BITOA/ BITOB, page-66

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Wazza222

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14/10/18

17:25

Post #: 36118498
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Originally posted by mpj7256: ↑

Hi, I understand that there could be a liquidity issue if you were wanting to sell your options instead of exercising them. I read about some lucky punter that had $10,000 worth of BITOA or BITOB that purchased them for $0.002. The strike price was $0.06, I presume. The SP went bonkers up to $0.17.
So, if my maths is correct, he or she would get $10,000 for every $0.002 increment above the strike price of $0.06. So it's $0.17, minus $0.062, which leaves $0.108... which works out to be a LOT of gains (5,000,000 x $0.108). Anyway, because the strike price has been reached, the punter can now exercise their options. Hypothetically if they invested all their spare cash into those options and then suddenly the value has increased dramatically but they would need to personally pay the Co $300,000 to be able to convert those options into shares? Doesn't make sense to me. But the company taking their "cut" and deducting the strike price from the total seems fair and practical.

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That is correct. The holder of the options must pay to the company (via the share registry) 6c for each of the options they want to convert. So in your theoretical example, the lucky holder needs to pay 5,000,000 x 6c or $300,000. The company then issues the holder (via the share registry) 5million ordinary shares. The holder can then sell at what ever the market price is.

BIT Price at posting: 17.0¢ Sentiment: Hold Disclosure: Held
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BITOA/ BITOB, page-66

The USA's dominance requires a domestic lithium supply chain. Chariot stands to benefit

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BITOA/ BITOB, page-66

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