Options BCNOB, page-16

Hey everybody, hope everyone is enjoying the ride with Beacon, I myself am a longtime investor with them. I got in in 2009.
The question I have is say you had 1,000,0000 options and they were given to you as part of a couple of capital raisings and the share price is 5 cents...if you convert them does that mean that you pay 1,000,000 x .025 which is $25,000 and your 1,000,000 options become ordinary shares @ 5 cents? So essentially I end up with another 1,000,000 shares at 5 cents after conversion? Is that right or is there something else or cost that I’m missing?

Thanks heaps.
Rousey