Replies to post #25433 on Ocata Therapeutics Inc fka OCAT

[shell3]

I think a lender can cash out anytime, they do use the last 10 day average rule most of the time, that put them .04 shares into the mix

[rumit]

Thanks Rocky,

1) Agree on all counts. This is indeed cynical of me to suggest this. Again, I do not believe that is what occured, but I wanted to discuss it.

2) Hmm.. I thought that was the meaning of the following section. If not, now many shares would this correspond to?


5.2 (a) In addition, at the first meeting of the Board following the Commencement Date of this agreement, Company will recommend to the Board that the Company grant to Executive options (the "Initial Options") to purchase an additional 100% of the existing aggregated employee options that were previously or are currently awarded to Executive under the Company’s 2005 Stock Option Plan (the “Plan”). The exercise price of the Initial Options shall be equal to the per share price of the Company’s Common Stock at the close of trading on the trading day that the Compensation Committee approves the award. Except as provided herein, the terms of the Initial Options shall be set by the Compensation Committee in accordance with the Plan and in the Company's standard form Incentive Option Agreement; provided, further, that the Initial Options shall be incentive stock options to the maximum extent permitted under the Company's Plan and applicable provisions of the Internal Revenue Code. Unless vesting is otherwise accelerated as provided in this Agreement in connection with a Change of Control, 100 % of the Initial Options shall vest immediately on the first anniversary of the Commencement Date.

EDIT: Forgot link
http://www.sec.gov/Archives/edgar/data/1140098/000114420410013897/v177442_ex10-135.htm