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Simplified:
The warrants are exercisable at $0.48 which is the lowest price that the company has issued shares.
Whenever the company issues shares the exercise price decreases the lowest offered price.
The issue is if this is true why are these trading this low?
It clearly says public offering of warrants .... which is what AMDDW is?
This is from the recent Prospectus, I have copied quite a bit because the bottom paragraph covers the repricing.
The issue at this point is why are the warrants trading this low?
May 2018 Public Offering Warrants
On May 14, 2018, we issued 11,370,000 common stock warrants (the “May 2018 Warrants”) in a public offering. The material terms and provisions of the May 2018 Warrants are summarized below. This summary of the May 2018 Warrants is not complete. For the complete terms of the May 2018 Warrants, you should refer to the form of May 2018 Warrant filed as an exhibit to the registration statement of which this prospectus forms a part.
Pursuant to a warrant agency agreement between us and American Stock Transfer & Trust Company, LLC, as warrant agent, the May 2018 Warrants were issued in book-entry form and are represented only by one or more global warrants deposited with the warrant agent, as custodian on behalf of The Depository Trust Company, or DTC, and registered in the name of Cede & Co., a nominee of DTC, or as otherwise directed by DTC.
Exercisability, Exercise Price and Term. The May 2018 Warrants entitle the holder to purchase shares of our common stock at an exercise price equal to $0.48 per share. The May 2018 Warrants were exercisable immediately and expire on the five-year anniversary of the issuance date. The holder of a May 2018 Warrant will not be deemed a holder of our underlying common stock until the May 2018 Warrant is exercised, except as set forth in the May 2018 Warrants.
The exercise price and the number of shares issuable upon exercise of the May 2018 Warrants is subject to appropriate adjustment, similar to that described with respect to the Series B Preferred Stock above, in the event of recapitalization events, stock dividends, stock splits, stock combinations, reclassifications, reorganizations or similar events affecting our common stock. Subject to certain exclusions contained in the May 2018 Warrant, the exercise price is also subject to adjustment in the event that we sell or grant any option to purchase, or sell or grant any right to reprice, or otherwise dispose of or issue (or announce any offer, sale, grant or any option to purchase or other disposition) any common stock or common stock equivalents (as defined in the May 2018 Warrants), at an effective price per share less than the exercise price then in effect (including in the event we issued Series B Preferred Stock at a conversion price lower than the initial conversion price of the Series B Preferred Stock).
Hey Boston, can you review the terms of the warrant?
I am wondering is it really repriced to $0.48 exercise price?
It seems like it is ... but the AMDDW hasn't really appreciated ... this is why I wrote it off as worthless, but check out the following from recent prospectus:
Pretty sure that AMDDW is a warrant from 2018 when the price was in the $1 range but that's before a reverse split of 1 for 30 ....
Exercise price might be a little higher than where it is now.
I won't say more ... but some people pushed a false narrative that hopefully didn't hurt that much.
(I also got caught, but average in and out ok)
If you can show me something substantive that indicates they were repriced ... let me know.
No Movement in the warrants.
This guy hasn't posted in awhile.
Guess he is done?
Looks like AMDDW is not moving back to $0.08-0.09 so far ....
Seems like a reprint of the news on Monday?
I would say the news caught the market in general off guard.
They kept the price capped because they didn't have a position.
They seemed to have scared all they can and now it bounces a little.
Now, if enough outsiders had invested before, the stock would have soared from the start.
This story is just unfolding ... now that some outside money has got in, it might start to flow a little better.
Email address in news release doesn't work?
Look at the preferred Series D shares.
LOL.
Well, at least the CEO is making out alright.
They can sell any and all shares and maintain 51% control.
Nice.
Relative to the amount sold, the volume yesterday and today is many times more.
Looks more like a dip to scare out some shares for a run that the market might be more prepared for.
We shall see though ... plays in this field are hot ...
Let's see if management is playing nice or not.
Likely a presold offering
There was no incentive to push up the stock as it wasn't widely held.
Wouldn't write off the stock completely unless you are just looking for a quick pop.
$2.00 was the hold line for continuation ... if it had broken that with earnest than it might have been done for the day.
Looks pretty solid right now.
UONEK has a beautiful chart, the problem is that these are way overvalued now, regardless, short term trades with tight stop needed.
Looks like some big holders flushed after seeing the stock rise like this.
Edit: Likely UONEK was the driving the downward pull. Might be an interesting afternoon, see if a couple more big holders dump some more.
Maybe a bounce back to $1 ?
Looking to see how much they shake the tree here.
An entry at $7-8 might look good.
Hope you flipped a little, The $1 held pretty good, looking to see if it pulls back again after unloading $1.40 or just chilling.
The stock hasn't held $1 since November 2019
Lots of people stuck with shares they don't want.
Add in the New Release had very little with numbers and it's easy to see why it's come back down.
I am more mad that the company waited while having a pending corporate action that was issued at several brokerages.
I think it's rather criminal to know that you will be doing a reverse split and not say anything publicly.
I thought that maybe they did have this in the books ... but when the pending corporate action was lifted, I thought it wasn't going to happen.
I bought and sold as it spiked to over $0.002 and I bought back when it dipped to $0.0007 but if I had been told an R/S was still pending, I wouldn't have bought back in.
Anyone check out the March filing on NVSOS?
Maybe they already did file it just hasn't been posted here.
1,000:1 split and $1 price is the same as 0.0010 pre split.
Yeah, it's 1:1,000
Looks like a clean out of old shareholders.
So ridiculous that this was pending corporate actions for quite some time and then once that was removed, they did this.
Kind of disgusting that someone got this opened to trade, got retail sucked in and now does this.
This is just confirmation that not enough 3s went through.
When the 3s get filled, views will change?
Meh.
Some people say they want 3s and 4s.
When they get what they want, their tune will change.
How big is the wall?
We talking 10 Million big?
What?
107million?
When Corona is over thinking like 2022 at this speed.
At least no lies about news coming today.
Maybe we see 5s and 6s
You got this today?
I am pretty sure something is happening due to the increase in restricted shares.
The question becomes will they announce now .... or later?
What if the CEO is dead?
No response since January and it seems people here lied to get out.
Update on the email sent to CEO?
Interesting that the restricted shares went up as much as they did.
So, are they going to say something now or do we wait 6 months for the shares to become unrestricted and that's when they actually say something?
Yeah, this was an obvious buy below $4 and in the low $4s ...
Obviously this disease is not solved overnight.
This is probably the best play on COVID-19 for now.
The only question is when will they smack the dilution button. That makes holding overnight a tough decision as they might have an offering at 30% off the close.
Kind of wish it stayed lower but this is going to be a fun ride.
Don't worry,
Some guy on here said updates were coming shortly.
Why would they lie?
What if the CEO got Corona and not the 6 pack kind?
Well that was the run for the week.
Still no update.
That means someone with a margin account got a nice forced liquidation when some other trade went bad.