Post by
cliffvb on Aug 01, 2013 2:40pm
regurgitating options
As Ii understand this: The company bought back the options they had formerly handed out to employees for free. These were exercisable at a much higher stock prices ($1.70/share avg). With that, they can now give out new options to the same employees at the current stock price which is much lower.
What a racket, for those who work there anyway. I would hope that those options would have easily been in the money again, well before expiration. Not exactly the kind of news we need to see to get this off its 52 week low. I also wonder exactly what "nominal consideration" means?
Comment by
peonica99 on Aug 01, 2013 4:32pm
Investor should really be angry at this. They failed to raise the value of the company, so instead of forfeiting their options they want "nominal consideration"...Now they are getting paid for failing. Bunch of bandits.