Options and Warrants expiringNote 18 in the October 31 2022 financial statements sets out the following options which will expire in the next 5 months:
Expiry Date Options exercisable Exercise Price
Jan 13, 2023 108,000 $0.195
Feb 8, 2023 50,000 $0.38
Feb 22, 2023 4,150,000 $0.39
Mar 1, 2023 125,000 $0.41
Mar 23, 2023 175,000 $0.395
May 6, 2023 375,000 $0.43
With PLAN common shares now trading at 21.5 cents, there is no financial incentive for option holders to exercise these options, other than the 108,000 priced at $0.195. Without a dramatic upward revaluation of the common shares in the next few months, it is likely that all the remaining options will expire un-exercised.
There are 12 additional option tranches, in number from 15,000 to 1,830,000 and at strike prices from $0.29 to $0.59, with expiry dates from Sept 2023 to July 2025. Again most if not all of these are at risk of expiring without being exercised in the absence of a strong share price recovery off the current 52 week low.
As a current shareholder I am not unhappy that the potential 10,000,000 share dilution represented by these previously granted options might pass unexercised.
I trust management will not see the need to issue any options in the coming months at what must surely be depressed strike prices.