Hi GGR. Not sure why the higher the share price when the warrants are exercised the worse it would be for CBW...ultimately if the share price goes up, it's six of one, a half dozen of the other eventually anyway. My frustration is a) it's weighing on the share price and I thought it would be over today after a frustrating 30 days or drip drip drip declines in the share price and watching most of my on-paper profits slowly melting away and b) if they're going to execute, then they should be able to raise the funds from the warrants by issuing less shares at a higher price anyway, so why would they want to give people extra time to exercise the warrants at a lower price? It seems they have plenty of money for now having just closed a $100 million financing so if they deliver, a few months from now when they need additional capital, they should be able to raise it on more favorable terms than the $1.50 warrants that they issued as part of the financing last June...
That being said, someone on the Yahoo! board stated that Chuck tweeted that the extension had something to do with a miscommunication between their transfer agent the warrant holders or the exchange or someone. All I can say is if it's extended again after this, I'll be selling some of my position because at that point I'll start losing faith in my competency of the management team to be able to execute a simple warrant deal, how can I trust in their competency to execute on a complex streaming deal? There are some other factors at play here as well that are making me question some of the decisions management is making in announcing/not announcing certain events that are taking place, but I am going to have to put a call into IR to verify some of it for myself before I get into specifics.
