Thanks for the correction. I missed that.
I suspect I will require at least one sizeable contract before I will exercise the first round of options. Under these circumstances the risk will be substantially reduced and the share price will be well north of 1.9 cents when the piggyback options are exercisable.
For me, I am risking $10k to have the option of acquiring more shares if they are successful in obtaining a commercial contract. I lose this $10k plus my existing too large a holding if no contract is forthcoming.
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