The current 20% ratio of options to the number of issued shares was initially agreed upon because of the need to attract the needed personnel many years ago.My understanding was that this was only a short term measure- not a forever one.

The more standard ratio is 10% and it would be good to see this ratio established on any future stock issuances, including the still-to-be realised 2 stock offerings which are going to be a major stock dilution.

The Canadian "LIFE" issuance of stock , up to $10 million, could involve 5 million more shares@ current pricing, which would mean another 2 million options come available under present 20% ratio. It is my understanding there is no normal 4 month hold on the stock so these options may become available very quickly.

Will Poet undertake to withhold issuance of any more stock options until the next physical AGM when this matter of 10% v 20% can be voted on by shareholders ?

Add to this the unknown $ amount of the US offering it could be another 2 million options.So, totally 4 million options. The majority of these options I believe go to Senior executives and then to other personnel, including Directors.