There are actually several parts to the proposals

(1) The ratification of the 2.4 million options awarded in August that have a strike at $1.10

(2) A new share option plan that does not change the former plan that has outstanding options. The new plan authorizes up to 15 million shares to be awarded by the board under terms that they decide upon. The strike cannot be lower than the closing stock price the day before the grant, but has no upper limit.

(3) A director renumeration plan, which currently has 600 thousand shares authorized would be increased to 1.2 million (it is nearly exhausted). This plan compensated board members with stock in lieu of cash. The issue price (these are not options but shares) cannot be set less than the previous day closing price.