Per the materials published to shareholders announcing the SHM:

"We spent $8.8M in fiscal year 2007"
"We've repurchased more than 18M shares"
"We've suspended repurchase because I [JT] no longer believe this is the best use of cash" Intriguing place to use "I" and not "your BOD"!
During the meeting the 18M was reiterated by JT but he quoted $11M. I wonder which is correct. Thus the average buy back price would appear to be either or 49c or 61c
The same document (page 12) refers to options being granted to Board members (436K - page 13), more to JT and 1.5M options at 16.5c to "an officer [David Pohl per page 11]" outside of the approved Stock Option plans and noted as "Equity Compensation Plans not approved by Security Holders". I don't recall any question on this - maybe because JT was so intent on shutting down shareholder questions in favor of an early (pre-noon) lunch.
I'm sure there's a viable reason to grant options at 16.5c when the average buy-back price is 3 or 4 times that. But the 10-K (page 11) shows the stock price in FY07 ranging from 45c to $1.37 - never as low as 16.5c. FY06 ranged from 8c to $1.96 so maybe the grant date was within FY06? Although 10K page F-26 seems to show June 5, 2006. 'Stock Based Accounting' presented on F-14 probably covers it.
A question that I don't believe was addressed was "How many of the 18M bought back were offset by those issued as stock options?".
Numbers above do not include any since the end of FY07 in May.

The numbers are difficult to track, but the auditors obviously OK'd them!