A matter of perspective, for .03 per unit each investor got:
-1 share of common stock
-1 warrant
Can we agree on that much?
The warrants were all converted into shares with the cashless exercise provision:
Through June 30, 2014, an aggregate of 89,666,668 warrants to purchase common stock were exercised in cashless conversions to an aggregate of 72,734,313 shares of the Company’s common stock.
Not quite a 1:1 exchange, since its 89.6M warrants into 72.7M shares of stock (see the VWAP formula for the math behind it), but lets assume 1 warrant to 1 share of stock exchange rate as it's close enough...
So for .03 each investor has:
-1 share of common stock
-1 share of common stock from cashless warrant exercise
So in the end, 2 shares of stock for .03, or .015 per share *average*.
