Biokey International Inc (BKYI)

[Pogo z]

"The reason for the R/S is that 11M more warrants were sold than could be covered by the 170M A/S. They could have raised the A/S, sold more warrants than were available or let opportunities slip by. They chose the best solution.

When the R/S passes (and it will), the A/S will be at 170M, the O/S will be 66M and there will be about 24M warrants and options with an average exercise price of about 40 cents.

Only about 16M new shares were issued (8M in post R/S numbers), so the actual Ownership didn't/doesn't change much."

Yeah Mike, you are pretty good with now you see it and now you don't.

P.S. FYI, they didn't choose the best solution for the share holders.