One thing that is glaringly obvious. Management don't want options converted (well not all of them anyway).
Ward must be supremely confident in getting funding without further dilution.
If he does, he could well look like a genius, albeit at the expense of option holders.
If 20m HZROs go begging, that will be 20% less dilution, but obviously less working capital.
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1 | 166 | 0.295 |
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