RE:MD&A Hghlight -Translated to EnglsihG1 posted:
- On August 26, 2015, the Company has agreed, subject to approval of the TSX Venture Exchange to extend 1st July 2019 the term of 1,000,000 common share purchase warrants held by Mr. Pouya Hajiani, PhD., Employee of the company, and issued in exchange for all rights, title and interest to two Patents related to physical separation technology of the rare earth elements. In addition, the fair value Intrinsic warrants will no longer be subject to a cap of $ 5 million on the date they become exercisable. All other terms remain unchanged good.
(it would be nice if managements options were tied to performance)
What I like here is that Mr Hajiani probably thinks that sometime before July 2019 his warrants could be worth MORE than $ 5 million (or $5.00 a share), so he negociated with the board to have the cap on the value of his warrants cancelled...
Am I right here ? What do you think ?
SS11