options ann, page-7

A conversion price of 12 cents is an incentive for the directors, view it as a perfomance related options program.

ADO management will, in all likelihood, view the anticipated shareprice far beyond 12 cents, in my opinion.
But that is excactly the point.
New ADO board members are awarded with perfomance/ outlook of performance related options.

If anything, this is to guarantee a piece in the pie for new arrivals to the board and the start of an exposure to the ADO story at a discounted price, some posters here wanted to desperately see before they invest larger in this upcoming biotech company.