I think there may be a little confusion from your post,
you said “That thought keeps me in and will do until we start to see volumes over 10mill or so, in which case I’d say someone’s exercising options”
I think that there is the forgotten step of notifying the market upon exercise, then they would be able to sell down to the market. Hotdogs is correct in saying that by there conversion we have share dilution.
Cheers
MAE Price at posting:
45.0¢ Sentiment: Buy Disclosure: Held