Sigma Labs Inc (SASI)

[TedJ]

Yes, smart investors have looked at the Q2 results and they see that there is not a warrant issue since all of the old outstanding warrants have expired worthless since the share price has been below the exercise price of these warrants. So Mark raised operating funds more than 2 years ago by selling less shares of common stock at a higher price based on offering warrants with those shares and the warrants have resulted no additional shares being issued. The company came out a little bit ahead on that deal.

Will new warrants get issued if the S-1 offering is implemented? Yes, but as I said before, I don't think that will happen unless the company shows enough revenues to make the move onto the NASDAQ. And if that happens, then I'm not worried about reasonably priced warrants being exercised in a year or two.