senti, I’m quite sure that you’re right on this too. :) You’ve been keeping better track and for much longer than I have. But I think we’re talking about different warrants. LP’s D-2 warrants with a 5-year expiration date that I listed were issued in conjunction with her loans to the company (March & April 2018) right after the Regulation D Series B Preferred Stock Offerings to accredited investors (Dec 2017 & Jan & Mar 2018) who received D-2 warrants with a 2-year expiration date. (which is why it irked me a little) I guess since it was a loan and different from the preferred-share offer, that justified the longer expiration date. I don’t believe that these D-2 warrants had the exercise period shortened. From the 10-K April 2019:
LOAN AGREEMENT and PROMISSORY NOTE
March 14, 2018
5.2 Warrants. The Initial Warrants will be exercisable for a number of shares of the Maker’s Common Stock that is equal to fifty percent (50%) of the number of shares into which the full Repayment Amount would be convertible at a price of Twenty-three Cents ($0.23) per share. As provided in Section 1, the Initial Warrants become due and payable upon the Holder entering into the Loan. In the event that the Holder elects to convert all or any part of the Repayment Amount into Series B Preferred Stock (or Common Stock) of the Maker, the Conversion Warrants will become due and payable on a proportionate basis, up to a number of shares of the Maker’s common stock that is equal to fifty percent (50%) of the number of shares into which the full Repayment Amount would be convertible at a price of Twenty-three Cents ($0.23) per share. Both the Initial Warrants and the Conversion Warrants will only become exercisable upon the earlier of Common Stock bring available for issuance or June 1, 2018. Both the Initial Warrants and the Conversion Warrants will be exercisable at a price of Thirty Cents ($0.30) per share of Common Stock, will include cashless exercise, and will have an exercise period of five (5) years from the dates the warrants become exercisable.
