Yes, but they could have quite easily converted 15 million more shares and received 25 million secondary options at the same option price. They've gone the road of caution. Those 10 million converted shares will be sold down so they actually receive payment for services.
Or, sold down to pay for the conversion of the other 25 million shares by September.
NTI Price at posting:
9.6¢ Sentiment: Buy Disclosure: Not Held
