Converted warrants does not show as trades. They are converted by the company and given to the holder as shares. The converted shares does not show on L2 until the holder places a sell order. So shares traded could be a regular shareholder placing a sell or a warrant holder placing a sell of already converted warrants. Most of the warrant holders are just waiting for a Bid to show so they can convert and dump. They know that once they convert, they can suffer a R/S and lose it all just like a regular shareholders.
VPCO is toast because a single Series A Warrants is valued at $1.5M each and at .0001, a single warrant will convert into over 15 billion shares and they have 48 remaining. VPCO crashed to "no bid" when only 4.7 billion shares were converted and traded. So a single warrant when converted can crash this POS at least 3 times and they have 48. Only morons would sell that many toxic warrants.
10-Q:
"If all of the outstanding Series A Warrants were fully exercised on June 30, 2016, the amounts payable to the holders of the Series A Warrants would be approximately $72.3 million, using a Black Scholes Value of $1,514,637 per Series A Warrant. The approximately 723 billion shares issuable upon full exercise of the Company’s 48 outstanding Series A Warrants is calculated (1) using a Black Scholes Value of $1,514,637 per share and a closing stock price of?$0.0001 per share and (2) assuming the Company delivers only common stock upon exercise of the Series A Warrants and not cash payments as permitted under the terms of the Series A Warrants."
