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Message: Re: MMP value
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Sep 23, 2011 11:50PM
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Sep 27, 2011 08:15PM
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Sep 28, 2011 10:39AM
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Sep 28, 2011 11:21AM
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Sep 28, 2011 12:56PM
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Sep 28, 2011 05:59PM
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Sep 28, 2011 06:14PM

It's all in the 10K.

Briefly:

3M+ options issued at average weighted price of 33c. 10.7M more not yet issued.

ITEM 12 of 10K

Flowers: 900,000 [750,000 @ $0.45 150,000 @ $0.10]

Felcyn: 1,259,700

Johnson: 975,000

As I wrote soon after the 10K was published, of the above 450,000 each for Felcyn/Johnson and 900,000 for Flowers are exercisable within 60 days of August 12, 2011. This means in the next two weeks or so (or they expire?).

What is so "magic" about August 12, or 60 days later?
There is a note in the 10K that Flowers' options became fully vested 10/9/2009 so that may explain his situation. However, a table indicates these options expire 9/17/2012 (750K) and 6/3/2015 (150K).

August 12th is, coincidentally, also known as the "Glorious Twelfth" in the UK, as it marks the traditional start of the grouse shooting season.


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