dilution

Hi all,
I just read the latest Appendix 3B put out by the company.
Please correct me if i'm wrong but if the company keeps issuing shares with ridiculous issue prices under the current Employee Option Plan won't it dilute the stock? Basically the companies unchanged value, divided by more shares. Just in the past 2 weeks they have issued 1,3o5,ooo shares as part of these options. And that is not even taking into acount the profit taking of some employees which will drag the price down further.

I think a company policy needs to be changed. A great option for the company, no cash neccessary when it doesn't have any...bad for shareholders.