nothing compelling in converting options atm. and there is also...

nothing compelling in converting options atm. and there is also the time factor. According to Share registry it takes about 10 days to issue new JKAs.
Also many holders had 'free' JKAOBs which may not have been a huge concern to them.
I've converted half my otions but I cant see a huge take up overall. The selling down from 17c would indicate that a few holders sold JKA to buy the options.

For me, JKA have a lot of 'loose ends' atm. they are potentailly exciting loose ends but there is uncertainty about projects and financing.