strong and stable, page-5

mudguts I believe it would have a nil effect on dilution, as it would be as if the original ALTO's never expired

IMO if they don't reissue the options it is a good sign for shareholders as it will reflect they are confident that some serious revenue is pending and that they are not reliant on external capital to fund the company.

Then again, I am sure those shareholders that held the ALTO's would again like to have them, because a deal with J&J or Baxter would see a shareprice well above 4c IMO and thus some highly valuable options.