the recipient of the 250k options, page-6

Maybe he needs some cash to buy Christmas presents. People sell for a wide range of reasons, often nothing to do with reasoned commercial considerations.

I understand that he has recently written out a cheque to the company for the better part of $500k to acquire the shares and has only cashed in a quarter of them. Given that he has left the company, I see this as a vote in confidence in the board, management and future prospects of the Company. If he had sold the lot, different story.

AS has built the team up to 175 staff strong. In business, in the real world, you will never retain 100% of your team.