We do not know how many heads the new sophs sold, but logic says...

We do not know how many heads the new sophs sold, but logic says all of the options they converted would have been sold.  The price was right for them to profit take and no one can blame them.   The lack of news at the moment is certainly concerning as the share price does need to be above 30c to facilitate the conversion of loyalty options.   The share price hit a high on the back of the investors conference with the share price slowly falling on the back of regular positive news coming out - the lack of news now is terrible and does nothing to help the current price.   The fact that the sell off has pushed the price down to a point where loyalty options are worthless works well in sophs favour too.  I mean if the price does not go above 30c before they expire, then they own more of the company with the remainder of their shares don't they?  Then if those loyalty options are not being exercised there is more chance the company goes back to them if they need a large injection of cash for new items (drill anyone?) with the same generous terms.  It is a win win for the sophs if the price remains where it is.

So lets hope the company comes out with some excellent news shortly and then continues that excellent news on a regular basis as we saw up until the 26th of last month, because even if you are in it for the long term you would want a price over 30c going forward.

I mean what is your choice for extra funding for large ticket items if it is required.
1.  loyalty options being exercised by average shareholders because the share price is above 30c, or
2. Sophs getting another bite of the cherry with cheap shares and attached free options (that don't expire until 2017!)
Either was there is dilution, but I would rather option 1.

All the above being said does not mean it is all doom and gloom though.  All it takes is one good announcement and everyone will be saying what was all that crap in the thread about.  They still have quite a few months to prove up a pipe or at least the likelihood of it or find a few massive specials and all option and shareholders will be slapping each other on the backs.

I am in for the long term and day to day fluctuations of share prices don't concern me, as long as they are above 30c.........

(I am a holder of Loyalty Options)