TedJ
I am apparently not making myself clear. IMO the warrants and options have little significant value as long as the exercise prices are out of the money. I have purposely ignored them as important current considerations.
The vast majority, my estimate is about 99%, have an exercise price $0.05 or higher. Why do you insist on including warrants and options that have little current conversion value in determining current ownership interests? As an example, how many holders in your opinion are going to convert their warrants at $.12 per share when the current price is around $.026 per share if meanwhile they are being paid interest? Warrant and option holders with few exceptions have little incentive to convert and when the exercise prices expire those holders will have presumably no residual value unless there can be recovery of the principals. At current pps forget about warrants and options please.
The point I am laboriously making is that insiders and individuals holding warrants and options are under tremendous stress. Unless the pps rises above $0.05 their warrants, options, convertible debentures will have lost most value unless there are options in the notes allowing them to recover the principals they loaned. Many tens of millions of these instruments expire on or before 2023.
Enough said, I do not want to have to make the same point over and over that at current pps warrants, convertible debentures, options and other convertible instruments have little conversion values. As a result, ownership percentage interests are not what they would seem to be if one included warrant, options and these financial instruments in making determinations.
