This move allows the executive team to exercise options NOW. So, they can support the company until topline and beyond. If they do, starting next week, it would be a huge sign of confidence.
Each of the 9 filings has notes below that state:
Powers warrants: Exercisable starting 11/1/2020
1. These warrants were in partial consideration of Ms. Powers' loans of $5.4 million to the Company and forbearance on the repayment of those loans. These warrants were approved and publicly reported in 2018. However, the documents to implement and issue (grant) these warrants were not executed until now. The exercise price was determined with reference to the price per share paid by unrelated investors.
Boynton: OPTIONS exercisable starting 7/2/2020
1. These options were already approved and publicly reported in 2018. The exercise price was determined with reference to the pricing for unrelated investors at that time. However, the documents to implement and issue (grant) them have not been executed until now.
2. These options were approved in January 2020. The exercise price was determined based upon the pricing in year-end financings with unrelated investors. However, these options have not been executed and implemented (granted) until now.
Bosch: Options Exercisable starting 7/2/2020
1. These options were already approved and publicly reported in 2018. The exercise price was determined with reference to the pricing for unrelated investors at that time. However, the documents to implement and issue (grant) them have not been executed until now.
2. These options were approved in January 2020. The exercise price was determined based upon the pricing in year-end financings with unrelated investors. However, these options have not been executed and implemented (granted) until now.
Boynton:
1. These options were awarded in part for service during the last 2 years. However, the documents to implement and issue (grant) them have not been executed until now. The $0.25 exercise price was determined with reference to the pricing for unrelated investors at the time of approval, which was the trailing 10-day average closing market price of the Company's stock, which was about $0.22. These options are subject to certain vesting requirements. They are also suspended and will not become exercisable until December 1, 2020.
Goldman options: Exercise starting 7/02/2020
1. These options were already approved and publicly reported in 2018. The exercise price was determined with reference to the pricing for unrelated investors at that time. However, the documents to implement and issue (grant) them have not been executed until now.
2. These options were approved in January 2020. The exercise price was determined based upon the pricing in year-end financings with unrelated investors. However, these options have not been executed and implemented (granted) until now.
Goldman options: Exercise starting 12/01/2020
1. These options were awarded in part for service during the last 2 years. However, the documents to implement and issue (grant) them have not been executed until now. The $0.25 exercise price was determined with reference to the pricing for unrelated investors at the time of approval, which was the trailing 10-day average closing market price of the Company's stock, which was about $0.22. These options are subject to certain vesting requirements. They are also suspended and will not become exercisable until December 1, 2020.
Bosch options:
1. These options were awarded in part for service during the last 2 years. However, the documents to implement and issue (grant) them have not been executed until now. The $0.25 exercise price was determined with reference to the pricing for unrelated investors at the time of approval, which was the trailing 10-day average closing market price of the Company's stock, which was about $0.22. These options are subject to certain vesting requirements. They are also suspended and will not become exercisable until December 1, 2020.
Powers Options:
1. These options were awarded in part for service during the last 2 years. However, the documents to implement and issue (grant) them have not been executed until now. The $0.25 exercise price was determined with reference to the pricing for unrelated investors at the time of approval, which was the trailing 10-day average closing market price of the Company's stock, which was about $0.22. These options are subject to certain vesting requirements. They are also suspended and will not become exercisable until December 1, 2020.
Powers Options: Exercise starting 7/02/2020
1. These options were already approved and publicly reported in 2018. The exercise price was determined with reference to the pricing for unrelated investors at that time. However, the documents to implement and issue (grant) them have not been executed until now.
2. These options were approved in January 2020. The exercise price was determined based upon the pricing in year-end financings with unrelated investors. However, these options have not been executed and implemented (granted) until now.
