excercising options by june 30, page-26

Unless a BIG ONE is announced well prior to June 30th shareholders should pray that the price holds at a level such that options are execercised. Otherwise the company is chasing another placement & those in the know on that send it Sth such that the placement price is very attractive to the taker. For that matter an option holder could elect to not strike his option at 20c but rather wait for an offer of a placement at 18.5c (being generous!).