So someone holding at least 9 million options would need over 1.3 million dollars if there were going to convert and see this through to the end. Maybe they are tidying things up and freeing up some cash if they don't have the money to convert all of them. IMO if you are holding that sort of windfall in options you have to have an in depth knowledge of the oil and gas industry or it one massive gamble.
Beaufort Securities, page-11
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