Options
Poor Matt Coffey. Greed may have got the best of him now.
Back a few years ago he went feeding at the trough and awarded himself 175,000 options with an exercise price of $1.45 CDN.
They expire in eleven days and they are in the money.
So he will pay $254,000 to convert these options to shares. And he will hold all of these shares if he is an honorable person. Else the message to the market is "get the hell out of ONC as fast as you can because even the CEO thinks it is overvalued."
And so he will be stuck with 175,000 in a lousy company that has very little chance of ever delivering on a Phase 3 without massive dilution and probably a reverse split (agian) sometime in the next year.
Almost no chance of MC profiting on this particular visit to the trough.