I’ve provided as an excerpt, the SEC Transaction

I’ve provided as an excerpt, the SEC Transaction Codes for an SEC Form 4, that appear in column 4.

If Mad J., or The Lemon had purchased shares, or exercised an option to purchase shares, there would be a P, or for 16b-3 exemptions, an F, I, or M in column 4. For non-exempt exercise, there would be either an O, or an X in column 4, based on in-the-money, or out-of-the-money exercise.

If this had been a 16b-3 exempt grant, column 4 would’ve contained an A.

Factually, in both Mad J., and The Lemon’s recent Form 4, column 4 contains a J, "Other acquisition or disposition (describe transaction)”.

That leaves two possibilities; given column 9’s contents, “0” (zero), the Form 4 reflects a post reverse split adjustment to an existing option grant, or the company erroneously filed - which is a possibility, of either a new grant (self-serving non-independent boards, with no corporate governance like MMEX often do this sort of thing), in which case there should’ve been an A in column 4, or there are multiple filing errors - however, no option exercise took place, no shares were bought, and no money changed hands.

Here is the transaction code table:

General Transaction Codes

P - Open market or private purchase of non-derivative or derivative security
S - Open market or private sale of non-derivative or derivative security
V - Transaction voluntarily reported earlier than required

Rule 16b-3 Transaction Codes

A - Grant, award or other acquisition pursuant to Rule 16b-3(d)
D - Disposition to the issuer of issuer equity securities pursuant to Rule 16b-3(e)
F - Payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3
I - Discretionary transaction in accordance with Rule 16b-3(f) resulting in acquisition or disposition of issuer securities
M - Exercise or conversion of derivative security exempted pursuant to Rule 16b-3

Derivative Securities Codes (Except for transactions exempted pursuant to Rule 16b-3)

C - Conversion of derivative security
E - Expiration of short derivative position
H - Expiration (or cancellation) of long derivative position with value received
O - Exercise of out-of-the-money derivative security
X - Exercise of in-the-money or at-the-money derivative security

Other Section 16(b) Exempt Transaction and Small Acquisition Codes (except for Rule 16b-3 codes above)

G - Bona fide gift
L - Small acquisition under Rule 16a-6
W - Acquisition or disposition by will or the laws of descent and distribution
Z - Deposit into or withdrawal from voting trust

Other Transaction Codes

J - Other acquisition or disposition (describe transaction)
K - Transaction in equity swap or instrument with similar characteristics
U - Disposition pursuant to a tender of shares in a change of control transaction