Option to take up options?, page-4

Hi guys

Any chance I could get a clearer explanation of what the options are with the options? Like for a child.

These are the first options I've ever bought and I'm still trying to work out how they work. I just bought a small parcel a couple of months ago to help me learn. Unfortunately I've recently moved interstate and currently have no fixed abode so haven't received any letters from KAI which might have explained things for me.


I don't want to sell them on market so if I understand matchbox20 correctly, at this stage I should just let them expire and then sometime down the track assuming the resolution is passed KAI will send me a letter saying I can extend my options for $.001/share with a new expiry date and a strike price of $.10?

Just to be clear as I understand it I have three options:
1. sell now at .003 (which I don't want to do)
2. Let them expire and take the loss (which I don't want to do)
3. Let them expire and take up the option to extend at 1c/share

I taking option 3 would mean I will either double my loss or make some money.

So am I understanding this all correctly or am I missing something.

And can you confirm that to extend my current options that are due to expire at the end of this month I don't need to do anything before they expire?

Cheers and beers