i'd guess most of the top 20 holders will convert, that's about 900m shares for 4.5m cash, even if share price is at 0.005 or lower.
Not sure about the rest of those options, and who they are held by.
There isn't 900m shares for sale at 0.005, and most of them I assume are those cornerstone investors who might still believe in the GMC story.
if they don't convert I wouldn't be too upset, that sets the table for capital raising of some sort and maybe less dilution.
if people still believe in the GMC "story" it's a good chance to buy at these low prices to reduce their cost bases.
someone wants 30m shares at 0.001...
if people don't believe they may cut their losses and let those options expire.
purely my guess.
People should also really stop attacking people for voicing their opinion. If I had done the same as those so called down-rampers and got out at 1c or even higher, I'd be a lot happier than I am now...
GMC Price at posting:
0.6¢ Sentiment: None Disclosure: Held
