LBELL,
Assume, you buy the same car as your neighbour, you pay $35,000 and he pays $ 20,000 does this not bug you?
I do not understand how he bought 25,000 shares at $1.00. Probably we have a Mr. or Mrs. "KNOW-IT-ALL" to explain.
"In June 1998, the company adopted a stock option plan (the "Plan"). Prior to the adoption of the Plan, each option granted by the company was subject to a separate regulatory approval. The maximum number of shares issuable pursuant to options granted under the Plan is limited to 3,750,000. The options are vested as to 25 % on the date of the grant and as to 25 % every six month thereafter. The option price under the Plan will not be less than the market price on the date of grant. The expiry date for each option will be set by the Board of Directors at the time of issue of the option but in any event will not be more than five years after the grant date.
On June 23, 1998 the company granted options under the Plan to its directors, officers and employees to purchase 1,375,000 common shares at an exercise price of $ 2.00 per share."
As at June 30, 1998 no outstanding options were listed for $1.00. The options are at $0.50, $0.51, $0.57, $1.35, $1.75 and as mentioned $ 2.00.
It would be very helpful, if somebody could explain this.
Threat, don't understand me wrong here. I do like this company and I see a long term future for it.
Thank you,
Klaus |
