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Just dabble, asr re issued options more than a month after they expired.

So it does not need to be done when they are active.

Asr did one option for every two originally held. That can vary, not set in stone.

Re issuing has 3 benefits.

1. Does not burn holders in general as many option holders also hold heads.

2. Does not burn sophs. They were given short dated options as the sweetner two times. They may next time, if they expire, screw the company for a better deal.

3. If issued at nominal, 0.1c. Money in without increasing the capital issued. Ie. They are non dilutionary to heads holders.