$72 today. Those options are simply what was specified the company would pay him for serving on the board of directors. The total of the 3 transctions equals what was previously reported in the proxy as his current options position. Remember there is no options market for OTC stocks--these options were granted by the company **
From the most recent prospectus:
In connection with David Schmidt’s appointment to our Board of Directors on August 1, 2011, as an independent, non-employee director, he will be compensated $2,000 per quarter and will receive annual option grants of 250,000 shares vesting 62,500 shares per quarter beginning on November 1, 2011. Our non-employee Board members are paid $600 per diem fees for days in which a board meeting is attended or the director is otherwise required to visit the Company or spend a significant amount of a day working on Company matters (“workshop days”). We reimburse reasonable travel expenses for attending board meetings and expenses associated with workshop days.
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