options, page-5

You can buy EMSOA on market at whatever the current market price is. This then gives you the OPTION of paying an extra 5 cents (to the company) on or before 31st December 2012 and convert your option into a fully paid ordinary share. You can do this irrespective of what the prevailing price of EMS is. For example EMS could be trading at 12 cents. It will still cost you 5 cents to convert your EMSOA into an EMS.