let me explain..An offerby AVL would clean up the balance sheet...

let me explain..

An offerby AVL would clean up the balance sheet by reducing and/or eliminating theoutstanding options that have created a supply overhang. IMO retail investorsare better off with the additional listed shares available to trade in the openmarket.

 Once the options are converted to common shares the existing shareholders can focus on the company fundamentals. This will remove the pressureput on the sp when option holders reduce or liquidate existing positions.

Also,the cashless offer eliminates the need to sell shares to cover the cost ofexercising their warrants and reduces dilution of the existing share base.