To you it's absurd, because you only know yours and not understand other people views.
If you had those leap (calls) purchased in October 2013, then you would hope for a B/O announced as soon as possible to maximize the huge gain. But as for JP, TC, et. they're seeing the potential of ARIA to be traded over $100s range in a few years, they're not interested in selling their shares in $20s for now.