it looks like Blakeley will do OK, from the last 10K:

Exercisable Options

1,500,000 shares @ $0.09 Expiration Date 11/14/10

250,000 shares @ $0.145 Expiration Date 03/30/10

Mr. Blakeley's stock options provide that if he is teminated after a change in control then he shall have six months post termination to exrcise the options rather than one month, subject to certain extensions for regulatory restriction on resale.