The Information Circular for the Nov. 30 AGM is on SEDARand it's major ask is an increase in to the number of stock options and incentive share units that the company can issue.
At the Meeting, disinterested Shareholders will be asked to consider and, if deemed advisable, amend the current Incentive Plan to:
(a) increase the maximum number of Common Shares in respect of which Awards may be outstanding under the Incentive Plan at from 750,000 Common Shares to 1,500,000, which together with the Common Shares reserved under the Fixed Plan is approximately 20% of the total number of Common Shares issued and outstanding as at the Record Date; and
and
(c) increase the maximum number of Common Shares in respect of which options may be outstanding under the Fixed Plan at from 26,434,860 Common Shares to 27,921,716, which together with the Common Shares reserved under the Incentive Plan is approximately 20% of the total number of Common Shares issued and outstanding as at the Record Date;
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I expect that the reolutions for the increases will pass easily, and be awarded at the Board Meeting that usually follows the AGM... and that shortly after that we may recieve a stream of news about our path to revenue.
My only concern/question is how far down the 'market maker(s)' is going to slow beat the stock price so that the awards of the 'options and incentives' are 'priced right for management'.
But perhaps it is all setting up for RG to subsequently 'exercise' some of his options and get some some skin in the game...which would be a nice SEDI filing to offset the consistent 3Db 'severance selling' that has turned so many investors off about the NXO story.
The 'monster's' ~ $0.30's may indeed be the level that sparks the turn.
Wouldn't it be cute if the turn took place at $0.375.
Then a run to new all time highs above $3.76 would be a ten-bagger.
Just musing...
GLTA
