option conversion, page-47

Close...ish. Options price is determined by the time/opportunity value and the heads price LESS the strike price. Options will never exceed to price of the heads. For example if we are lucky enough to see heads at 30c. Options would be worth- whatever the market decides the time value should be, let's say 2c, plus 10c off the heads. 2c +20c The options offer higher leverage to price movements at higher risk. From current prices heads the example would present a 3.5x appreciation, options would present a 12x appreciation. It's a balls on the block move at this point, luckily KRC management has theirs right there beside yours.