Ann: Fully Underwritten Placement TONOD Options, page-9

Mark, I think you are a little confused as to the use of the term "in the money".   It is not to be confused with in the green, or making a profit.

In the money refers to an option contract that, if it were exercised today, would be worth more than $0.  In the case of TONOD options to be "in the money", the shares only need to be worth more than 10 cents.  In other words, it would be worthwhile converting the options to shares as the shares are worth more than the cost of converting the options.   When they are "in the money" you can still make a loss on them if you paid more than the difference between the current share price and the cost of converting the options to shares.

I hope I explained that in a way that makes sense.