yes ive heard that story many times. And then the company issues management new free options because their values are sooo aligned.
explain to me this and then i will be quiet.
How does it hurt the company to give the previous option holders who lost their money, new options that are out of the money but guarantee new funding for the company? eg 20c strike price instead of 16c and make it for a year out?
if the share price is 30c then they are 10c in the money but get 20c a share in fund raising for more drilling.
so tell me the harm that it would do?
ps the company did discuss it as an option but decided no. I hope they decide no when it comes to their own incentive options. dont you?
General Day to Day Banter, page-407
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