Dudes.......Options are GIVEN to employees as an incentive to keep good help WITHOUT paying them direct cash. They are issued at usually a few pennies below the current market price and will expire usually a few years into the future if not exercised by the expiry date. When they are "in the money" and anytime before the expiry date, they will convert the options into shares. In order to do that they must pay for the shares at the STRIKE price. The next traunch of options which were issued at $0.40 must be exercised by March 23, 2015. If the option holder wants to keep all the shares, he will pay to MBX $0.40 for each share he wishes to keep. If he hasn't got the cash in the bank to buy the shares he can sell some of his existing shares in the market (therefore at the time of this writing he'd be selling at $0.54). He will then pay $0.40/share to MBX for the shares. The advantage this is the cash goes directly to the company.
The options in question that someone suggested will be extended, were already extended last year for an addtional year to March 23, 2015. They should have expired last year but were under water at that time and the company was counting on the cash from those options had they been exercised. Extending the expiry date until the options came "in the money" i.e. March 23, 2015, made sense as the Company was guaranteed the cash, although a year late.