Options cannot be extended, period. They are worth zero with no chance of becoming in-the money given the company's financial stress. It does not stop the board from issuing new options under new terms though but the board would not care, why bother if they have other more pressing matters to attend. Besides, I have never seen any other company doing so over the years, someone please correct me.
Options cannot be extended, period. They are worth zero with no...
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