Applied DNA Sciences Inc (BNBX)

[speed_of_light]

Thanks for the information.

It turns out we were reading the same thing, only arriving at different interpretations!

I think the "variable rate transaction" reference means APDN is agreeing not to issue common, along with any other types of security that could be converted into common (warrants, convert debt, etc.) -- during such time as Sabby holds warrants.

So, a subsequent financing might take the form of APDN buying back Sabby's warrants if they still are in possession of them.

I don't think there's a "make whole" issue at play here, but I'm no expert in these matters.

Didn't one of the posters here indicate he was a broker?

He may have a better handle on this.

GL