RE:I JUST CAN'T FIGURE OUT THIS MANAGEMENT P.P. 55 CENTSKey here is the exercise price. For this particular one, they can't sell until it hits 86 cents, well above current SP. The ones issued to GEM were as high as $1.20. As for dilution, it's still very minimal and only taking money as they need it rather than the HUGE lump sums other companies seem to do.