Scott e I absolutely agree.
I believe the BOD is rewarding the original holders to hang in there with a chance to recover some or all of their money from a bad situation with the LOMOs expiring out of the money. It is a fair offer by the BOD as normally option holders would be left in the hole with their expired options.
I also agree that they are expecting the options to be in the money because of the ramp-upped operations and the lack of time for those results to kick in before Aug 29.
I have a large holding of the options and considered selling until the offer appeared. I congratulate the BOD as I believe it save saved me from a very large loss.
I don't think the BOD deserves all the brick bats it gets because look at where the operation was and what visible progress had been made up to a year ago and compare that with the position today.
I accept that I have not been part of the past pain but my research in assessing the company going forward is much more bullish that a lot of posters.
I think we are looking fairly promising with no significant bad news since Oct14 and plenty of very significant good.
The stock needs to be re-rated with a change of sentiment and I think we will all get our reward including the BOD with their shares and options. I hope they make a bucket load, because guess what that means for us.............
LOM Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held
