Applied DNA Sciences Inc (APDN)

[Go_APDN]

Hi McShark - As you said the outstanding options and warrants are factored down by the 1 for 60 reverse ratio but they're not converted. They remain non-exercised and outstanding until the holders can/do exercise them based on vesting considerations and the prevailing share price. Also, it's my understanding that in some cases a secondary offering can include shares owned by founders, early investors, etc., in which event the proceeds of those sold shares would go to the individual stock sellers, while the rest of the capital raise would go to the issuing company. APDN however will only be issuing new common shares and warrants as part of this financing and so all the proceeds (less Maxim's fee) will go to the company.

The next few weeks should be pretty interesting! GL!