Rex

Your proposal may well make sense. At least to those operating with traditional rational motivations. Unfortunately, such is not applicable to Connacher.

Due to the nature of the "insiders" stock option plan being exempt from dilution, it is in the interest of the insiders to only expand via dilution. A reality which the "insiders" have amply demonstrated time and time again. This device serves management and others under the plan in the way of a direct transfer of worth from you, me and all other non insider holders of the common shares to the "insiders". A reality which obviously all non-insiders can take comfort in as is evidenced by the SP of Connacer as we have been increasingly diluted!

Brian