Looks like, from the proxy statement, that there are three million or so shares, mostly in the hands of board members, that are exerciseable ``within 60 days`` of issue of grant -- which occurred on February 28, 2006. Counting 31 days in March and 28 more in April until the SHM equals 59 days.

So my question is: Are these shares likely to be exercised near on on the day of the SHM, and why were they issued? Carlton Johnson, for instance (and I only mean for instance), has some 800K shares in this group, but those are all the shares he has, according to the proxy.

I don`t want to add to any more speculation, but these large amounts of shares, exerciseable in a fairly tight, 60-day window, would seem to be of interest to all shareholders. Are they part of the stock option plan up for adoption?

Opinions and ideas welcome.