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Thursday, February 02, 2017 6:04:01 AM
...Warrants exercised from the Private Placement in May 2016:
"At May 26, 2016, the Closing Date of the 2016 Private Placement Financing, the Company issued 9,418,334 shares of Common Stock.
Equity Value of Warrants
The Company accounted for the Series E Warrants relating to the aforementioned 2016 Private Placement Financing in accordance with ASC 815-40, Derivatives and Hedging. Because the Series E Warrants are indexed to the Company’s stock, they are classified within stockholders’ equity in the accompanying consolidated financial statements.
11. SUBSEQUENT EVENTS
During the period commencing January 1, 2017 and ending on January 31, 2017 additional Series D warrants have been exercised for an aggregate issuance of 250,000 shares of the Company’s Common Stock at and exercise price of $0.25 per share, resulting in gross proceeds of $62,500. In addition, Series E warrants have been exercised for an aggregate issuance of 200,000 shares of the Company’s Common Stock at an exercise price of $0.438 per share, resulting in gross proceeds of $87,600."
IMHO...PE(financiers) holding these warrants are and have been very patient, having waited since May 2016 (Private Placement) to exercise.
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