Yeah ok. Lets try and deal with this one more time. Because it seems people still don't get it.
1. They were not loyalty shares they were loyalty options. And I don't think they ever said what the strike price was even. You would likely not have been able to sell them or anything at the time and if you wanted them to be shares you would have had to pay to convert them.
2. When they decided to no go through with the bonus loyalty OPTIONS they did so by also striking a deal to also remove the options that were part of the deal to be issued to xped for the acquisition. Both new version of option were cancelled, Loyalty and Xped.
SO, just to be clear, the "bonus options" that they decided not to go ahead with, would likely not have been as great as people seem to be imagining. ALSO because the xped "owners" were receiving options as well as part of the deal, it means current holders and xped holders were just all going to get the same, more options to buy shares and more dilution, but probably not any greater share in the company. In fact far from it. It would have meant less of a share of the company to current holders that how its ended up with the current new setup. Because the bonus options to current holders were only going to be 1 option to each 10 shares on offer.
Because of the actual number of shares on offer at the time, that was only likely going to be about 65 million options to current holders.
But the original deal was for xped holders to get 320 million options! Which they cancelled as part of the deal!
SO lets all actually call a spade a spade instead of the couple of people that don't seem to really understand how it all works griping about it.
Had the "loyalty options" gone ahead as originally planned, even if they had been more favorable than I think they probably would have been. You would have had another 400 million shares of possible dilution and the xped acquisition would have outnumbered your own "bonus" 5 to 1!
By cancelling the bonus options, they not only lowered the overall dilution of the company shares by possibly up to 20%-25% in the end but lowered the possible actual dilution to "loyal holders" by anywhere between 15-25% possibly.....
There is no other way to see the cancellation of the "loyalty options" other than as a good thing, when you actually look at the actual situation and take all info into account, instead of being caught up in the "Waily Waily Waily, whoh is me, I didn't get something free?" In truth the "bonus options" would have been nothing more than a token gesture and every current holder is way better off with the current deal buy a long long way.
