They have to exercise them. That cost money up front. So much as we believe in PTK there's no assurance they can sell them and not lose. To us that sounds stupid, to a company in turmoil that's a whole diffent situation (especially after Sheldon's haphazzard deals). So do see where I'm coming from? To me it would be stupid to not excersise them, to PNP who knows, a whole different kettle of fish?