Options that are tradeable are more than likely not able to be...

Options that are tradeable are more than likely not able to be extended.
Wouldn't that make a mockery of the purpose of "tradeable" options. Imagine as a holder you sold the diminishing value a month before expiry date only to have the management extend. Imagine directors who have received as part of their remuneration package options, extending the life of those options if they were not in the money.

The management can only issue new options separate to existing.

The current options will expire worthless if the sp does not exceed 8c.

I spoke with Andrew M a few weeks ago and was not inspired about Gxy's future.