options, page-2

goarmy

He has to pay to convert the options. The conversion price is 9 cents and 15 cents, which is way above the current share price and the options represent 1% of MUN's issued shares when fully diluted. To convert the options he will pay MUN $600k.

AP and other board members are participating in the share placement by taking up about 3.8m shares.

We can buy some cheap options on market which expire in April 2014 (I think), if we want more MUN exposure.

I have no problems with AP's options so long as he delivers. If he fails to deliver then the options will be worthless anyway.

loki