I dont see any incentive to exercise to get the piggy back...

I dont see any incentive to exercise to get the piggy back option. As per the announcement on Nov 30 it says the new option is unlisted. Had it been listed it would have been worth 5 or 6 cents and exercising may have been a viable option. But as it is unlisted it is worthless until the share price is over 25 cents.

You would be better off lust keeping your options and buying stock on market with the money you intended to use for the option exercise.

I will be very surprised if very many get exercised which will greatly benefit the stock in the long term due to the reduced dillution