Ann: Shareholder Update Q3 2018, page-41

But why would directors who exercise their options (and pay 11 cents per share for doing so) be selling at anything less than something that delivers them a profit of more than a measly cent or 2 ie significantly north of 11c? Unless the directors were to believe the share price was to rise significantly above 11 cents, they would never exercise the options in the first place. I kinda get the vibe that you may not properly understand how options work...and have based a strategy on this misconception.