The land is still expiring and the economics on the wells still are challenged.  

The economics of the wells is still very challenged.  

The employee still wants you to believe all is merry in this environment.  NOT.

Kicking Horse has high debt.  Look what is happening with debt lines.  If you do not know, they are being reduced.  
 
Management has not bought any shares recently.  If the stock is so cheap, why is management not buying in.  Maybe they will issue new options because the stock is so cheap.  Not great for shareholders.