DCAP » Topics » Option Price

This excerpt taken from the DCAP DEF 14A filed Nov 23, 2005.

Option Price

The option price of the shares subject to an incentive stock option or a nonstatutory stock option may not be less than the fair market value (as such term is defined in the plan) of the common shares on the date upon which such option is granted.  In addition, in the case of a recipient of an incentive stock option who, at the time the option is granted, owns more than 10% of the total combined voting power of all classes of our stock or of a parent or of any of our subsidiaries, the option price of the shares subject to such option must be at least 110% of the fair market value of the common shares on the date upon which such option is granted.

On November 17, 2005, the closing bid price for our common shares, as reported by Nasdaq, was $2.75 per share.

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