ok so to clarify I buy the options then exercise them...

ok so to clarify I buy the options then exercise them immediately, I've essentially bought TOX at $0.03 when the market is trading them at $0.047

Presumably I don't get the securities until 6/1/06, otherwise I could just sell the TOX, then use that extra money to buy more TOXO and repeat right?

so if I'm confident TOX is going to be higher than $0.03 by 1/6/06 which I very much am, I'd be a fool not to buy TOXO instead of TOX?

either way I'm getting in, appreciate your help