Kel/Value/R59- PEIX
I just read the pospectus on the 120.3K shares issued to the preferred shareholders in leiu of paying around $1.5M of dividends. My question is, based on the following chart out of the prospectus, how many potential fully diluted shares do we really have here with PEIX ? What about those 9,945,210 shares of common stock reserved for issurance under warrants to purchase common stock outstanding at $12.53 ? Now that the common stock is "in the money ", shouldn't we be adding another 10M shares to the fd count ?
" The number of shares of common stock shown above to be outstanding after this offering is based on the 20,145,068 shares outstanding as of May 22, 2014 and excludes the following as of May 22, 2014:
· 323,872 shares of common stock reserved for issuance under our 2006 Stock Incentive Plan, of which options to purchase 240,713 shares were outstanding as of that date, at a weighted average exercise price of $4.18 per share;
· 762 shares of common stock reserved for issuance under outstanding options issued under our 2004 Stock Option Plan, at a weighted average exercise price of $867.23 per share;
· 9,945,210 shares of common stock reserved for issuance under warrants to purchase common stock outstanding as of that date at a weighted average exercise price of $12.53 per share;
· 632,968 shares of common stock reserved for issuance upon conversion of our Series B Preferred Stock; and
· any additional shares of common stock we may issue from time to time after that date.
