Vislink Technologies Inc (VISL)

[finesand]

Sold: 12M shares @ $1/sh = $12M

(at bottom references to other posts)

Explanation: The cashless Warrants, as posted here earlier,
clearly show that they get the 6M Warrants for free.
How so?

Closing 8-K
https://www.sec.gov/Archives/edgar/data/1565228/000149315219010668/form8-k.htm
Warrant Deal
https://www.sec.gov/Archives/edgar/data/1565228/000149315219010668/ex10-1.htm
Offering
https://www.sec.gov/Archives/edgar/data/1565228/000149315219010583/form424b4.htm

I only post the Cashless Warrants 3.3.8 section (i) here,
which applies right now and emphasize the trigger:

3.3.8 Optional Cashless Exercise. A Cashless Exercise (as defined below) may occur (i) beginning on the earlier of (A) August 4, 2019 and (B) if the Common Stock trades a total of more than 20,000,000 shares beginning on the pricing date of the offering as reported by Bloomberg, and ending on the fifteen (15) month anniversary thereof, in whole or in part for a whole number of Warrant Shares if the Weighted Average Price of the Common Stock on any prior Trading Date is less than the Initial Exercise Price (subject to adjustment for any stock splits, stock dividends, stock combinations, recapitalizations and similar events) in which event, in lieu of the formula below, the aggregate number of Warrant Shares issuable in such cashless exercise pursuant to any given Exercise Notice electing to effect a Cashless Exercise shall equal the product of (x) the aggregate number of Warrant Shares for which the Warrants are exercised as if such exercise were by means of a cash exercise rather than a Cashless Exercise and (y) one (1);

You see, the numbers of cashless shares they get is 6M x 1, without paying any extra dime (cashless). This formula is in lieu of the usual formula in case the VWAP is lower than strike after 20M shares traded.

Therefor, they actual average price of their purchase is $1/sh for 12M additional shares - bringing the OS to 14.25M.

OS
2019-07-10 2.25M
2019-07-22 14.25M

1.55M shares x $2/sh
4.45M sh x $2/sh (pre-funded warrants)
-----------
6.00M shares x $2/sh = $12M
=============

6.00M Cashless Warrants for free
-----------
12.00M shares for $12M = $1/sh

And trust me, they were shorting earlier on the pop and don't need to reach their $1/sh price at all, simply using their free Warrant shares to cover their position - whenever they seem fit.

$1/sh can be easily broken down.

++++


1st Warrants Post: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=149992482

My 1st reply: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=149988205

RS History 1 : 12000
XGTI https://stocksplithistory.com/?symbol=xgti
VISL https://stocksplithistory.com/?symbol=visl

Company's history also included the MBTH deal
where the directors are arms length beneficary
to increase REVENUES and not profits

Some older info here: https://investorshub.advfn.com/boards/read_msg.aspx?message_id=149994124

They are simply not in the biz of becoming cash flow positive.