EcoloCap Solutions Inc. (fka ECOS)

[deal guy]

Dutch

I actually think warrant 1 is still unexercised. Here is the rationale

1) ECOS unrestricted shares grew by 1bn form the time they issued the warrant. However, ECOS can't deliver registered shares to LSR while they are delinquent. They can only offer restricted shares.

2) Restricted share count remains at same level before and after issuance of warrant so LSR hasn't received restricted shares. Which is what they would get from a delinquent filer

Since they can't get freely tradeable unrestricted shares and they haven't received restricted shares, my best guess is that the warrant 1 remains unexercised as of today.

By the way if they exercised and ECOS gave them shares there would be an SEC filing required for a new 5% shareholder. None has been filed by LSR or ECOS.