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Thursday, March 30, 2017 8:12:42 AM
BiondVax has 135.8 million shares outstanding.
There is a 40:1 ratio between shares and American
Depository Shares.
Thus there are 3.40 million American Depository Shares.
In addition, the company has a further 1.91 million
warrants traded in the United States outstanding
(convertible to 1.91 million ADS or 76.4 million shares), convertible at $6.25.
Now do the math again my friend, and you'll get it right.
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