As options are a ``reward`` and usually are not worth the paper they are issued on unless the sp is above the exercise price then I see these recently registered 5 million option shares in a positive light. With the PTSC treasury ``bulging(?)`` with cash the company could just have easily issued bonuses and saved on taxes.

By registering these options for future distribution at an excersise price of $1.03 mgmt and board have every reason to work for a much higher share price. In addition if Lars is correct then we are also effectively and temporarily reducing the float, two for the price of one!

``We shall see``

marc