I am quite comfortable with the reasoning as to why SC has no...

I am quite comfortable with the reasoning as to why SC has no direct holding. Not sure which oppies you refer to as being in the money... I think you will find that he holds 7.5M oppies at 6 cents with an expiry date June 30th 2013.
I think you would find it worth your while to talk with Steve directly, several HC holders do,and as far as I am aware he always returns the call. There are very few MDs that actually return calls and the fact that he does speaks volumes. ......go on, try it, you mat be quite surprised.

kippax