RE:Annualized G&A $28,240,000 - Includes BoD Cash Fees.... While I am dead against these jokers receiving any stock optionsi lately, your valuations are not quite correct. If the holder of the options decided to exercise them, they would have to pay the value or strike price when they were issued, This latest 41000 or so was around 2.35, so they would need to pay this amount to get the sbares, just shy of $100,000. If the shares at exercise were at $4.00 like you state, then the real lost value to QTRH would be $1.65 per share or $69037.35 x 7 for a totall hit of about $483,000. actuality, most of these stock option that vest in the money or are exercised are in fact exercised for cash. QTRH still bears the cost, however, as they must either pay the increased value or issue the shares for sale on the open market.