Maroon, I agree with a couple of your points, but your analysis is filled with assumptions. First you are assuming that launchpad was given 1 million share options. At a time when the stock was $1.50 I doubt those share options were 1) not 1 million, and 2) not in the money to be exercised. So I don't know how you can safely say we are out $1,000,000 dollars.

And since our stock has done nothing since then it might be safer to assume that any options they were given most likely expired worthless. Just like the majority of the options that are awarded to Gale ( I believe each month) and awarded to the directors.

Don't fall into the trap that options are just free money. They can be good money to be made if the stock has moved up nicely. Since this obviousely is not the case, its safer again to assume that the majority of options are worthless or out of the money.

We will probably see the financials before the Micon report, and I would advise you to read closely the "option expensed" section of those reports to get a better idea of how these things work.

As Buffet recommends and hated the tech companies for, ISM does expense the options given once issued. This is known as a non-cash item. Hence why our losses can look so large by doing little work at times. Once those options are declared worthless or expired, that value assigned is reversed. Luckily most mining companies do the same. Even our good friends next door. Hope that helps.