On page 10 of the 2017 Annual Report the table lists several allocations of options. Two sets issued on 27 June 2016 when the share price was $0.009 and 27 Jan 2017 when the share price was $0.007 are excercisable for 1 cent, so it has probably been from among those.
Usually options can be exerecised at anytime before their expiry date, but it is only when the share price is above the exercise price that they have any value. So when AB got the SP above the half cent he inherrited, he made these valuable for the "sophisticated investors". The table on page 10 also shows that earlier options had expired because the SP had continued to dive.
In any case, it means PPY just raised $15k.
PPY Price at posting:
2.5¢ Sentiment: Sell Disclosure: Not Held
