The stock went down to four cents or so on Wed. the 29th. Putnam exercised his options on Thurs. the 30th @ 0.10. Was this an automatic thing? Or did he actually come up with $110,000 to not lose his options for something that the day before had some troublesome news and he was paying $70,000 more than it was trading for on the day he exercised? He could have bought on the open market on the 30th and paid much less. I have never had stock options to exercise and do not completely understand the process. Thanks.