I think you missing the point of the options Vlada. The bond holders have no case at this point but we don't have the permit either. A case could be made that if Kry files for arbitration after the May 28th deadline there has been a change of control. If this were the case the bondholders would have to be repayed immediately.

I don't think the best use for our current cash is to pay out the bond holders. I would rather make a deal with options to have the bond holder wait if we have to go through the courts.

While you are worried about more dilution by hanging onto our cash, I more worried we will have no cash thus the current amount of shares will be worth ZERO if we can't afford to go to court. Plus the options are only worth some thing if we win other wise all shares are worth ZERO.

It's a no brainer for me.