My interpretation of the 3% Warrants:
The common shares will be worth ZERO when ALL shares will be cancelled so investors will need to spend new money to obtain Warrant Shares.
The NEW Authorized Shares will be 20,100,00 with the option for an additional Authorized Shares of 29,900,000, totalling 50 million if all Authorized Shares are activated.
The current shareholders of VNRSQ will be allowed to buy 3% of the NEW Authorized Shares, so 3% of 20,100,00 is 603,000 Warrants and if the additional Authorized Shares are established 3% of the 50 million (20.1 + 29.9 = 50 million) would be 1.5 million warrants.
The current Outstanding Shares are 130,929,399 so the NEW Warrants of 603,000 (3% of 20,100,00) would mean 130,929,399 divided by 603,000 total warrants equals one warrant for every 217 VNRSQ shares currently owned. If the NEW Authorized Shares are activated to 50 million then 130,929,399 divided by 1.5 million total warrants (3% of 50 million) equals one warrant for every 87 VNRSQ shares currently owned.
The Company has also set up a toll-free hotline to answer employee, vendor, investor and royalty owner questions, which is available Monday through Friday, 8 a.m. to 6 p.m. Central Standard Time at 844-596-2260 (internationally at 929-333-8976).
To bite the worm of incite is to bite the HOOK of the antagonist . They win .
