Hi lostlego
The company will send you a doc with the details of your PRRO options and you simply fill out the sections including how many of your options you want to convert to PRR shares and send them the 2c per option money along with the completed doc and they will be converted into shares. It takes a week or so for this to be done.
Hence if you have 1000 PRRO and want them all converted it will cost you 1000x2c=2000c=$2. Then you will have 2000 new PRR shares from this conversion.
cheers
Birdseye
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