The 47 million options were a 'bonus' for the Patterson's backed...

The 47 million options were a 'bonus' for the Patterson's backed IPO participants. Many holders won't exercise or will try and dump beforehand.

The play here is to buy the options at the intrinsic value (3c -4c), convert, and watch the SP move higher post 13th March, when the handbrake comes off. Buying the options is a buy now, pay later (13th March) trade. You can also get some volume and get set, without moving the price.

Until they are out of the market, the SP will be capped.