jysk, I think you're seeing as an owner again. They already had options. Cheaper options. They let them expire. There were rights. The same price that they thought was a deal for current shareholders. All expired. Heck, AE didn't even come through on his commitment to be a back up buyer. But by putting his name on the list, he got the free warrants. Now all these new options. They now have 5 years to make this work. If it does, they all exercise and make a lot of money with no risk. If it still hasn't launched in 5 years, they don't exercise, they've lost nothing, except maybe the hoped-for lottery ticket, and they probably issue themselves more options, just in case. They simply guarantee themselves a chance to cash in without taking the risks that they seem to expect shareholders to take.

I am, of course, taking a negative view vs your positive one. But in this case, I truly have trouble seeing how this scenario is a good thing.