BioNitrogen Holdings Corp. (BIONQ)

[dutchf]

Richard, I'm not quite sure what you mean by new shares being created. The authorized number of shares is 1,000,000,000 which is what it has been from the beginning. The number of outstanding shares is approx 378,000,000 which has not been rising at any significant rate. With 47 mill warrants and 14 mill option outstanding, you could see the outstanding share count increase by 61 mill if all of the warrants and option were to be exercised. I think the strike price for the warrants is .06 or above and have a conversion date of June 2015. I hope there is a strong chance that they will be exercised because it would mean out sp is more than likely well higher than that price. I do not know what price is associated with the options. As far as creating "new" shares, it can not be done without shareholder approval. I think our share structure is very good and even with all of the warrants & option exercised we would be fine once construction and production takes place. The best way to protect yourself is to have enough shares at an attractive price that you can pick a price point that gives you a chance to sell a few shares and minimize your risk. I personally think we will have that chance in early 2015 and then be able to sit back and enjoy the ride. There is still risk associated but I think the reward is worth the investment. Sorry to be so long winded!