Just a few points after reading all of the posts today:
1) I was also curious if the RS was pre-warrant or post-warrant (not 100% familiar with the language of warrants with regards to RS) but the fact that the warrants were already converted unequivocally means those shares recently converted will also be diluted. So there's no additional dilution from the RS.
2) For anyone saying they'll just authorize and issue 200M more shares....come on guys. With a new PPS of around .25 or .30, you're worried about a company with 93k of assets and liabilities suddenly needing $60M? I'm sorry but this talk is ridiculous. WDDD now has ~6M of equity from MRMD and STATED ITSELF in a press release they plan to fund operations with those shares, and it's been in the MRMD filings for over 4 years that WDDD will sell those shares. With the ~1M from the warrants, ~6M from the MRMD, 1.5M of notes deferred/expired, and S&G contingency, there is absolutely no need for more financing short-term.
3) For the worry that WDDD will simply continue doing R/S to issue additional shares - read the explanation above. Why would WDDD ever needs hundreds of millions?
4) For anyone saying they're scared of Kidrin taking advantage....that's not how that works. The only ones making out on this deal are the warrant holders. Kidrin owns 5 or 6M shares and besides his salary, I believe that's the only way he makes money from WDDD. His wealth in WDDD is directly tied to the WDDD equity he owns. Suggesting he would tank PPS to take advantage of shareholders and make himself rich doesn't make any sense, and isn't legal.
5) The warrant holders, as specified many times, are long-term shareholders of WDDD. Suggesting they would dump their shares into market and tank PPS goes against all actions of the company and its main shareholders in its history.
6) The R/S was done for a specific reason....the company was clearly doing fine with the 246M and wasn't authorizing more. But the warrants (for cash needed before the MRMD runup) made that impossible to do without an RS.
