The option letter says: " If you do not exercise or sell your options they will expire .... and your right to for shares ...at 8c will lapse."
To me that means dead. Dead is dead!
Please tell me the source of your information about reallocation, and not that you have seen it happen plenty of times either.
Options are not like entitlements under a rights issue etc which do not die if not taken up. They can be allocated to someone else. Are you confusing the 2?
The option letter says: " If you do not exercise or sell your...
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