You have to look at the whole idea of options. In most cases the directors of the company do not recieve a wage. Their only source of gain for their service is through the granting of options. There will always be approximately 10% of the outstanding shares granted as options. That is the way the game is played. The purpose is to encourage the directors to work toward a better share price in order that they may exercise them. Reducing the trigger price of the options though is bordering on dirty pool. If they cancel the old options they would simply reissue new ones so the end result is the same. However with the market being where it is, there has to be some blue sky showing for them, so maybe it is justifiable. It is all being done within legal limits however, so nothing for us but to accept it. The one comfort may be in the idea that they are issuing them now because they think the SP is going to move forward shortly (always look on the sunny side).

Regards

K