So much dilution.  I too will vote "No" if this option proposal resembles previous ones.

That said, the higher option price (as suggested) of $.55+ would be more encouraging to existing shareholder. 

More so, why not make the expiry date a more reasonable time frame.  Preferrably no more than 1 year.  Motivate to get things moving sooner.   Nothing bothers me more than rock bottom option pricing, with essentially expiries many many years into the future.  Ridiculous and achieves very little positive incentive.

At this point in the game, with talk of 2019 holding much potential, it could carry a lot of promise to those who will otherwise feel further frustration.