> the idea is they will be able to cash them in at a $1 or so, with a great payday.

I think the big chunk of it will be exercised at much higher prices.

“In addition, 600,000 stock options were granted to five outside Directors of the Company as their annual remuneration. The stock options were granted pursuant to the Company's 2010 Stock Option Plan, have an exercise price of $0.10 each and will expire on June 21, 2016.”