I don't think so on the options. Historically, all the options have been done on a "cashless" exercise basis. This means they "pay" the exercise price through giving back shares. The remaining ones have an exercise price at 50% of the average trading prices. So if the average is 6 cents, they get to exercise at 3 cents. Here's what happens on a assumed 5 million stock option exercise on a cashless basis.
5,000,000 shares with a 3 cent exercise price = $150,000.
$150,000 / 6 cents (stock price) = 2,500,000 shares.
These 2.5 million shares are surrendered to pay the $150,000 exercise price requirement.
The person then has 2.5 million shares that are "free". He sells for what he can get. Assume that's an average 5 cents. That nets him $125,000 in profit.
NGHT gets no money and the O/S share count increases by 2.5 million.
So the issue is NGHT needs to have enough trading volume to absorb what will be 12.5 net shares during May 2014 - December 2015.