Option 1. Management gets the report out prior to EMSOA...

Option 1. Management gets the report out prior to EMSOA expiration. Share price knocks up. Options exercised. Cash in flow to sell the project or move it on.

Option 2. Report not out by EMSOA expiration. Share price will have drifted down. No cash from options exercised. Capital raising. Further dilution.

I'm pretty sure management knows this, so we should have a report out before EMSOA are cut loose. And if we don't then you will be forgiven for thinking I'm going to put my money in to extend the company six months so the Directors get their options up without same said Directors putting their nuts on the line...