nz, welcome....i think the answer is that at this point the management is'nt convinced when (if at all) they will get the final permit...at least not convinced to the point where they would risk thier own money....which makes total sense. if they risk thier own money and kry did'nt get a permit, not only would they be out of a job, they'd have no savings.....if you have a ton of shares and options on kry stock only a fool would risk everything he had on a permit.....