I think the operative word here is "undisclosed" I think Elmer has disclosed that they are in discussions at this point in time. There is nothing further to disclose.

The disclosure would be the content of those discussions--the actual material information, not that there are discussions. If in the discussions anything was said that could affect the share price if it became known, then until it was disclosed in a News Release they could not issue options.

So, once again, it seems to indicate that there were no negotiations up to the date those options were issued.