Directors skin in the game, page-2

Let's have a look at those options. I'm only going back three years; I don't have time to do more, and I'm going to ignore options that have expired.

Sources:
28 October 2015: annual report.
16 October 2014: annual report.
27 September 2013: annual report.

	Expiry date	Exercise price	Quantity	Date(s) reported
1	20 Feb 2017	0.55	6,250,000	27 Sep 2013, 16 Oct 2014, 28 Oct 2015
2	3 Mar 2018	0.55	150,000	27 Sep 2013, 16 Oct 2014, 28 Oct 2015
3	5 June 2017	0.15	5,000,000	16 Oct 2014
4	5 Jan 2017	0.10	6,383,334	28 Oct 2015
5	5 Jan 2018	0.15	6,383,334	28 Oct 2015
6	5 Jan 2018	0.20	6,383,333	28 Oct 2015
7	5 Jan 2018	(Unvested)	8,000,000	28 Oct 2015

... yeah, okay, I was going to say that it's not as big a problem as you're suggesting - thinking that a lot of those options had been around for a long time - but having looked into the figures from the annual report, I have to agree with you. Certainly not a good look. I haven't looked in depth, but I'm guessing that the 15 cent options that would have expired on the 5th of June were exercised. I also haven't looked at any reports subsequent to the October 2015 annual report.

For all the potential of the company, I must admit that my inclination is shifting - more and more - towards cutting my losses and running. Which is a hard thing to admit, given how long I've held, but... *sighs* I don't know. I really don't.