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Monday, August 11, 2008 9:44:10 PM
The options in this registration statment are exercisible @ $0.001 per share - not $1.44 or $1.51 (not sure where you got those strike prices from)
The company is also probably paying some of their salaries in stock due to the fact that they're probably running very low on cash.
The stock they receive on exercise of any options is Rule 144 stock which basically means they can only sell it in certain amounts based on shares o/s and volume traded during a period and also after having held it for a certain time frame (i.e. they can't exercise and then immediately sell)
The 2nd quarter 10Q is due on 8/15 so you'll likely see more information about cornell conversions/stock awards etc in that document.
Not sure how much you have invested in this but in my opinion they don't have much chance of ever getting back to where they were due to the fact that they probably will not be getting additonal funding from cornell (or anyone else) and can't generate any positive cash flows.
Good luck to you
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